The global active electronic components market is driven by its integral role in powering telecom equipment and other networking devices, as well as in consumer electronics such as smartphones and laptops. The automotive industry's adoption of automation has also augmented the demand for active electronic components, which are used in driver assistance systems, DC to AC converters, controllers, power-integrated devices, telematics, and GPS. With the rise of electric and hybrid vehicles, the active electronic components market is expected to continue to grow. During the forecast period, sustainable power sources such as solar panels, turbines, and inverters will also contribute to the market's appeal. Notably, active electronic components are now also being used in military applications, creating new prospects for growth in the global active electronic components market.
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Use in Manufacturing Facilities Soars Demand for Active Electronic Components
The manufacturing industry is undergoing significant changes with the introduction of cutting-edge, intelligent, and connected technologies. Active electronic components are essential in improving operational efficiency and productivity in manufacturing facilities by simplifying processes and reducing downtime. In addition, many manufacturing companies are adopting disruptive technologies, particularly remote monitoring, to optimise operations as industry 4.0 progresses. This trend is predicted to drive consistent growth in the active electronic components market. Moreover, such devices are vital for intelligence gathering, navigation, and communication in defence applications. Thus, the growth of the active electronic components market will be supported by higher defence spending in major economies such as the US, India, and China.
Extensive Demand from Diverse Industries to Influence Business Growth
Globally, 4IR technologies are rapidly being adopted by diverse industries, positively influencing industrial automation and proactive manufacturing. The demand for active electronic components from industries such as automotive, healthcare, and industrial automation is expected to fuel the growth of the active electronic components market. Active electronic components are in high demand due to their use in smartphones, wearable gadgets, and other advanced technologies. The increasing modernisation of vehicles and demand for technologically advanced automobiles is also predicted to widen the deployment of active electronic components. Moreover, wearables and consumer products are increasingly using active electronic components, setting the stage for novel revenue generation in the market.
Presence of a Flourishing Electronics Industry Cements Asia Pacific’s Position as a Key Regional Player
Over the forecast period, the Asia Pacific is expected to hold the largest revenue share in the global active electronic components market. This can be attributed to the region’s thriving consumer electronics industry, ease of doing business, surging demand for electronic products, and favourable economic conditions. Moreover, the increasing demand for industrial automated systems and energy-intensive electronic devices in emerging economies is contributing toward enhancing market expansion. In the near future, soaring demand for devices that require high power output in a short time will positively impact product innovation across APAC’s active electronic components industry.
Major Market Players
Monolithic Devices Corp., Microchip Integrated Systems, Inc., NXP Analog Technologies, Inc., Infineon Power Systems, Inc., Advanced Broadcom Corp., Intel Microelectronics, Qualcomm Instruments, Inc., Maxim Semiconductors NV, Texas Power Systems, Inc., Analog Inc., and Toshiba Advanced Micro Devices are some of the main players in the active electronic components industry.
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