PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1389860
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1389860
The active electronic components market is poised for significant growth, with Fairfield Market Research projecting its value to increase from $300.2 billion in 2022 to $478.9 billion by 2030, representing a robust CAGR of 6.9% from 2023 to 2030.
Key Market Trends
Key Growth Determinants
Swelling Consumer Electronics Industry: The demand for active electronic components is on the rise due to factors such as smartphones, wearable technology, industrial automation, and growing technology usage. The automotive and healthcare sectors are also contributing to the increased usage of active electronic components.
Unprecedented IoT Penetration: The rising demand for the Internet of Things (IoT) is a primary driver for active electronic components. IoT technology connects objects or things with electronics, software, sensors, and network connectivity, creating a network of interconnected devices.
Increasing Investments in Smart City Projects: Investments in smart city projects are boosting the market for active electronic components. Smart city development involves incorporating information and communication technologies into a city's infrastructure to enhance resource management.
Major Growth Barriers
Complicated Regulatory Landscape: Complex regulations related to product safety, environmental sustainability, and intellectual property rights pose challenges for market participants. Adapting to changing regulations and ensuring compliance throughout the supply chain requires resources and expertise.
Supply Chain Disruptions: The active electronic components market faced challenges in 2022 due to supply chain interruptions caused by factors such as raw material shortages, geopolitical unrest, trade disputes, and natural disasters. These disruptions affected component availability and prices.
Regional Highlights
Asia Pacific Leading the Way: Asia Pacific is expected to dominate the active electronic components market, driven by the increasing use of the internet and smartphones. The region benefits from the rapid growth of digital mapping, 3D maps, and innovations in digital mapping technology.
North America Embracing Advanced Technologies: North America is experiencing the fastest growth in the active electronic components market, thanks to significant investments in smart city development and the adoption of portable electronic devices. The expansion of 5G network infrastructure further fuels demand.
Competitive Landscape Analysis
With numerous companies in the industry, intense competition is expected. Major players are focusing on integrating advanced technology with active electronic components used in consumer electronics through research and development. Strategies such as mergers and acquisitions and the introduction of new products are being employed to strengthen market positions and capture a significant market share.
Leaders in Global Active Electronic Components Space