The global active electronic components market size was reached at USD 326.12 billion in 2022 and is expected to be worth around USD 747.59 billion by 2032, poised to grow CAGR of 8.7% during the forecast period 2023 to 2032.
Market Overview:
The active electronic components market revolves around the segment of the electronics industry that deals with components capable of controlling the flow of electricity. Active electronic components play a crucial role in various electronic devices and systems, enabling functionalities such as amplification, signal processing, and power management.
Optoelectronics, diodes, MOSFETs, integrated circuits, optoelectronics, JFETs, oscillators, and transistors comprise active components. Sources of energy (voltage or current sources), generators, and semiconductor devices such as transistors, solar cells, SCRs, etc., are typical examples of active components. In a circuit, active electronic components act as a power source. In real-world applications, active electronic components are advantageous because they frequently allow a small amount of power to regulate a more significant amount. In other words, amplification is one of the critical advantages of active devices such as tunnel diodes, transistors, and vacuum tubes.
Regional Snapshot:
North America is expected to account for a significant portion of the market during the predicted period. The US government is funding the development of smart cities. Additionally, it is anticipated that the 5G network infrastructure development would increase the volume of newly installed installations of telecom and networking equipment, spurring regional market expansion.
The increased use of cutting-edge technology like smart buildings and homes and autonomous cars is the primary driver of growth in this sector. Several significant market participants, including Texas Instruments, Intel, and Qualcomm, are based in the area. With a considerable portion of the industry, the US is the biggest market in this region. The automotive, healthcare, aerospace, and defense industries all contribute to the need for active electronic components.
During the projected period, Asia Pacific is expected to witness the fastest rate of growth. The geographical trends and factors that will affect the market throughout the projection have been thoroughly discussed by Technavio's experts. Asia-Pacific is expected to see the highest growth in the market for active electronic components during the forecast period. Asia Pacific’s biggest active electronic components market is China, contributing significantly to revenue. The region's market growth is mainly attributed to the rising active electronic components demand from end-user industries, including those in emerging countries like China and India and those in the automotive, aerospace, electronics, and electrical sectors. Additionally, a rise in disposable income is anticipated to enhance demand for vehicles, technology, and electrical equipment.
Active Electronic Components Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 352.87 Billion |
| Projected Forecast Revenue in 2032 | USD 747.59 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 8.7% |
| Largest Market | North America |
| Base Year | 2022 |
| Base Year | 2023 To 2032 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Report Highlights:
Market Dynamics:
Driver:
Enormous demand for IoT
An interconnected system of objects or things with software, electronics, network connectivity, and sensors is known as the Internet of Things (IoT). Owing to IoT technology, these actuators and sensors may be used by an Internet-connected gadget to collect data, record it, and send it instantly to other computer devices. Semiconductor integrated circuits (ICs) containing a microcontroller, memory, wireless connectivity, sensors, and a range of analog and digital components are a common feature of IoT devices. The need for active electronic components built for IoT devices will rise as there are more and more IoT applications. Thus, the element is expected to fuel the market’s growth.
Restraint:
Susceptible to failure
High temperature, excessive current, ionizing radiation, mechanical trauma, and stress can all lead to the breakdown of active electronic components. These parts are also susceptible to flaws brought on by product packaging. Typical failure types are contact failures, MEMS failures, and defective printed circuit boards. The constant risk of such failures in the systems limits the adoption of active electronics components by acting as a restraining factor for the market.
Opportunity:
The rising financial support for smart city initiatives
In a smart city project, numerous information and communication technologies are integrated into the city's infrastructure. To effectively manage their resources and assets, nations worldwide focus on building smart cities. Smart city solutions, including intelligent lighting, intelligent traffic management, intelligent utilities, and intelligent water and waste management, rely heavily on the participation of the many market stakeholders, including the relevant governments at the local and regional levels, information and communication technology (ICT) smart device manufacturers, service providers. Investments in smart cities will speed up the network infrastructure construction required to allow machine-to-machine (M2M) communication. Furthermore, significant investments in smart city initiatives have been made by emerging nations, fueling the need for active electronic components.
Challenge:
Regulations and standards
Standards associated with active electronic components comprise factors such as product safety, intellectual property rights, and environmental impact control the sector. Failure to adhere to such standards could result in penalties, product recalls, and damage to the company's image. Various international product quality and reliability norms, including ISO 9001 and IEC 60068, also control the global market for active electronic components. Smaller businesses may find it difficult to enter the market because of the high expense of certification and testing needed to comply with these requirements. Due to the technological landscape's fast change and the increasing complexity of electronic systems, the sector also faces new hurdles. Throughout the projected period, this issue is anticipated to impede the market's expansion.
Recent Developments:
Major Key Players:
Market Segmentation:
By Product
By End User
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