Active Electronic Components Market to be Worth $500.93 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, March 20, 2023 /PRNewswire/ -- The global active electronic components market size is expected to reach USD 500.93 billion by 2030, expanding at a CAGR of 6.6% during the forecast period, according to a new report by Grand View Research, Inc. Active electronic components regulate the flow of electricity. There is at least one active electronic component in each kind of printed circuit board. Active electronic components include diodes such as Schottky diodes, LEDs, Zener diodes, and photodiodes, generators such as DC generators and alternators, and all different types of transistors such as FETs, JFET, bipolar junction transistors, and MOSFETs, voltage sources, and current sources.
Key Industry Insights & Findings from the report:
Read 100 page market research report, "Active Electronic Components Market Size, Share & Trends Analysis Report By Product Type (Semiconductor Devices, Vacuum Tubes, Display Devices), By End-user (Consumer Electronics, Automotive), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Active Electronic Components Market Growth & Trends
The widespread usage of connected devices which requires a large amount of active electronic components and the continuously increasing demand for active electronic components in numerous sectors are some of the factors which are driving the growth of the active electronics market. New market expansion prospects are being opened by numerous manufacturers of active electronic components to develop new products and offer ground-breaking solutions to customers.
The convergence of connected devices such as smartphones, tablets, televisions, gaming consoles, home appliances, security systems, and smart meters has resulted in several breakthroughs in electronic components. It is expected to boost demand for IoT electrical components. Many connected devices that run on batteries for months or years without needing to be replaced or maintained necessitate energy-efficient IoT end-node apps. The decreasing cost of components such as processors and sensors, together with the increased usage of wireless communication, has led to the creation of smart devices that can interact with one another without the need for human involvement.
The automotive industry is rapidly evolving, with technology combining automotive electrical components. Although fully autonomous cars are still a few years away, automobiles are growing more complicated as they incorporate electrification, networking, Artificial Intelligence sensors, and integrated software. The average combustion engine car now has between 2,000 and 3,000 capacitors. This figure is projected to grow as more services get electrified. Because of liability restrictions and higher warranties, automotive electronic components are more expensive.
To attract more customers, automotive manufacturers worldwide are concentrating on integrating numerous electronics and technology into their products. The growing popularity of premium and ultra-luxury automobiles is positively impacting the adoption of active electronic components in the automotive industry.
In July 2022, NXP Semiconductors announced a collaboration agreement with Hon Hai Technology Group to create platforms for a new generation of smart connected atomobiles. Hon Hai, an electronics manufacturer and technology solution provider, aims to leverage NXP's automotive technology portfolio and long-standing experience in safety and security to offer architectural innovation and platforms for electrification, connectivity, and safe autonomous driving.
The growing popularity of premium and ultra-luxury automobiles significantly impacts the automotive active electronic components industry. In July 2022, NXP Semiconductors announced a collaboration agreement with Hon Hai Technology Group to create platforms for a new generation of smart connected automobiles. Hon Hai, an electronics manufacturer and technology solution provider, aims to leverage NXP's automotive technology portfolio and long-standing experience in safety and security to offer architectural innovation and platforms for electrification, connectivity, and safe autonomous driving which in turn will drive the demand of active electronic components in the automotive industry.
Active Electronic Components Market Segmentation
Grand View Research has bifurcated the global active component market based on product type, end-user, and region:
Active Electronic Components Market - Product Type Outlook (Revenue, USD Million, 2017 - 2030)
Active Electronic Components Market - End-user Outlook (Revenue, USD Million, 2017 - 2030)
Active Electronic Components Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players in the Active Electronic Components Market
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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