Active Electronic Components Market Will Grow at Highest Pace Owing...

Active Electronic Components Market Will Grow at Highest Pace Owing to Growing Usage in Consumer Electronics Industry

Posted 2024-05-03 09:50:10

The active electronic components market comprises of products such as integrated circuits (ICs), transistors, and diodes. These components are building blocks in electronic devices and their demand is driven by rising usage in consumer electronics, smartphones, computers, automotive vehicles, and industrial equipment. Active components offer advantages like low power consumption, miniaturization, high efficiency, and longevity. With technology advancement, these components have become essential building blocks in a wide range of electronic devices.

The Global active electronic components market is estimated to be valued at US$ 661.18 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Active Electronic Components Market Growth are Infineon Technologies AG, Advanced Micro Devices, Inc., STMicroelectronics N.V., Microchip Technology, Inc., Analog Devices, Inc., Broadcom Inc., NXP Semiconductors N.V., Intel Corporation, Monolithic Power Systems, Inc., Texas Instruments Incorporated, Qualcomm Inc., Renesas Electronics Corporation, Semiconductor Components Industries, LLC, and Toshiba Corporation. These players are focusing on developing new and innovative products to gain a competitive advantage.

The growing usage of electronic devices across various industries along with rising demand for energy efficient and compact components is driving the market. Consumer electronics is the largest application segment for active electronic components. Smartphones, laptops, tablets, and other handheld devices require large number of integrated circuits, transistors, and diodes.

Ongoing technological advancements are leading to development of new generation active components like FinFET transistors, gallium nitride transistors, and embedded passive devices. These new components offer higher efficiency, speed and integration than previous versions. Their adoption is increasing in applications like 5G infrastructure, electric vehicles, renewable energy equipment and AI/ML systems.

Market Trends

- Miniaturization of active electronic components: Ongoing research in nanotechnology and 3D fabrication techniques is leading to development of miniature integrated circuits, transistors and other active components. Their small size enables developing compact smartphones, wearables and other electronics.

- Growing adoption of gallium nitride (GaN) technology: GaN components have higher efficiency, power handling capability and frequency capabilities than silicon. Their usage is increasing in fast charging power adapters, data centers, renewable energy converters and electric vehicles.

Market Opportunities

- Growth in electric vehicles industry: Rising sales of EVs will drive demand for efficient and durable active components used in motor control units, battery management systems and other subsystems.

- Adoption in renewable energy sector: Active components are indispensable for efficient operation of solar panels, wind turbines and other green energy equipment. This presents an opportunity for market growth.