Rising popularity of wearable devices such as smartwatches, virtual reality headsets, and fitness bracelets is driving growth


Dublin, December 23, 2021 (GLOBE NEWSWIRE) – The “Global Active Electronic Components Market Size, Share and Trend Analysis Report by Product Type (Vacuum Tubes, Semiconductor Devices), by End User (Automotive, Consumer Electronics), By Region, and Segment Forecasts, 2021-2028 “report has been added to ResearchAndMarkets.com offer.

The global active electronic components market size is expected to reach USD 529.86 billion by 2028, registering a CAGR of 9.2% from 2021 to 2028.

The increasing demand for electronic components active in the production of smart home appliances, such as refrigerators, air conditioners and washing machines, is expected to drive the market growth during the forecast period.

Moreover, the early adoption of these components in the networking devices and telecommunications equipment required for the development of 5G infrastructure is expected to further accelerate the market growth from 2021 to 2028.

The growing popularity of wearable devices, such as smartwatches, virtual reality (VR) headsets, and fitness bracelets, and rising consumer spending on health and entertainment are also expected to increase product adoption. in the years to come.

In addition, large patient data coupled with investments made by governments and private actors around the world to build state-of-the-art healthcare facilities have increased the adoption of high-tech medical equipment. and connected devices, thus increasing the demand for products.

The demand for connected cars is transforming the automotive industry. This has increased the use of advanced electronics in automobiles for multiple applications, such as parking, security, telematics and navigation.

Thus, the increasing demand for advanced electronics in vehicles is expected to drive the market growth during the forecast period. Additionally, the demand for advanced microcontrollers or modems to provide robust connectivity to self-driving cars and other critical applications is expected to increase product adoption during the forecast period.

With the rising trend of Industry 4.0, the adoption of Internet of Things (IoT) devices in manufacturing is gradually increasing around the world.

Major manufacturers are opting for new technologies to increase their overall productivity and operational efficiency to ensure profitability. Therefore, the increasing adoption of IoT technology for intelligent manufacturing applications, such as machine-to-machine communication, is expected to increase product demand.

However, the trade war between the United States and China is expected to restrain the overall growth of the market during the forecast period.

Highlights of the Active Electronic Components Market Report

  • The Indian market is expected to experience significant growth due to increasing investments from major smartphone manufacturers to establish their manufacturing facilities in the country.

  • The integrated circuits (IC) sub-segment held the highest market revenue share of over 55% in 2020 due to the high demand for integrated circuits integrated in advanced devices, such as smartphones, computers. Laptops, Vehicle Automation Systems and Network Peripherals

  • Growing demand for products on next-generation devices, such as smartphones, game consoles, and other consumer electronics, is expected to fuel the growth of the consumer device segment from 2021 to 2028.

  • The Covid-19 pandemic has a significant impact on the market in 2020. Several manufacturing companies have reported a notable drop in their revenues for Q1 and Q2 of the year 2020

  • Several key market players are focusing on mergers and acquisitions to strengthen their market presence and expand their product portfolios

Companies mentioned

  • Infineon Technologies AG

  • NXP Semiconductors NV

  • Texas Instruments Incorporated

  • Toshiba Corporation

  • STMicroelectronics

  • Semiconductor Component Industries, LLC

  • Intel company

  • Maxim integrated

  • Renesas electronics company

  • Broadcom Inc

  • Qualcomm Inc

  • Analog devices, Inc

  • Advanced micro-systems

  • Microchip Technology Inc

  • Monolithic Power Systems Inc,

For more information on this report, visit https://www.researchandmarkets.com/r/at6bbh

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