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Active Electronic Components Market to Grow due to Increasing Demand for Hybrid and Electric Vehicles

Active Electronic Components Market to Grow due to Increasing Demand for Hybrid and Electric Vehicles

Active electronic components are used in areas such as telecommunications, consumer electronics, and computers, among others. These components form electronic circuitry and are manufactured or utilized within the electronics field. The requirement for enhanced energy efficiency in electronic products and the emergence of a number of applications is fuelling the demand for active electronic components. The electronics industry engages in designing, producing, creating, and selling devices such as televisions, radios, stereos, computers, and other electronics products. The numerous components required by the electronic industry for building various electronic products are supplied by the electronic components industry. The two industries complement one another and help in forming a key segment that caters to economies all around the world.

Rising Adoption of Renewable Energy Sources to Propel Active Electronic Components Market

The increasing trend of using hybrid and electric vehicles and increasing adoption of sources of renewable energy will fuel the global active electronic components market in forthcoming years. In addition, recent technological advancements within active electronic components have raised the demand for small-sized hand-held devices such as tablets, smartphones, and PDAs. The convenience and networking potential of these electronic devices have fuelled the usage of smart wearable devices including smart wrist bands and smart watches, among others. Hence, the demand for reduced component size and increased reliability has raised the demand for active electronic components. In addition, the increasing concerns regarding energy efficiency have raised the requirement for active electronic components that aid in conservation of energy, thus stimulating the market for active electronic components. On the other hand, rising electronic waste due to the use of active electronic components may impede the growth of the market in the coming years.

Semiconductor Devices Led the Market in 2014

On the basis of product type, the market is segmented into diodes, semiconductor devices, integrated circuits, display devices, optoelectronic components, cathode ray tubes, microwave tubes, photoelectric tubes, x-ray tubes, triodes, and others. Amongst these, the segment of semiconductor devices held the biggest share in 2014 and is predicted to rise exponentially in forthcoming years. This is owing to the rising product innovations and growing demand for energy-efficient devices within the electronics industry. The semiconductor devices segment includes transistors, diodes, and optoelectronic components, among others. On the other hand, the prime applications of display devices include consumer electronics, display systems, and medical electronics.

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North America Active Electronic Components Market Held a Share of 32%

On the basis of geography, the active electronic components market is segmented into Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa (MEA). Amongst these, in 2014, North America emerged as the biggest market and held a share of 32% in the market for active electronic components. This is due to the increasing adoption of micro-electromechanical systems and renewable energy resources. However, the regional segment of Asia Pacific is poised to supersede North America in the coming years and is predicted to grow exponentially, rising at a healthy 9.10 % CAGR from 2015 to 2023.

Infineon Technologies AG, Texas Instruments, Inc., Fairchild Semiconductor International, Inc., Maxim Integrated Products Inc., Analog Devices, Inc., ON Semiconductor, NXP Semiconductors NV, Toshiba Corporation, Diotec Semiconductor AG, Vishay Intertechnology, Inc., Panasonic Corporation and Everlight Electronics Co., Ltd., among others, are the prime players operating in the market.

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