The changes in how we engage with one another caused by the current pandemic and the growth of the popularity of new technologies such as electric vehicles has transformed industries and their use of electronic components.

Recent reports have noted that “existing trends, prime challenges, and current expansion strategies applied by the key organizations” constitute a hyperactive competitive gamut of the electronic component industry.

“Advancements in the electronics industry have boded well for the growth of the global active electronic components market. Manufacturers of electronic devices follow meticulous approaches to develop archetypes and 3D models for the end products. This has helped these entities ensure seamless control over the manufacturing process, while also fostering quality, accuracy, and resilience in manufacturing. Several manufacturers have deployed dedicated teams for product designing and development, enabling them to gather comprehensive insights about the entire manufacturing process,” a PR Newswire report noted. 

The Transparency Market Research report noted the global active electronic components market forecasted a CAGR of 8.4% from 2019 up to 2027. Given the value of the global active electronic components market was US$ 252.54 Bn in 2018, the projections in the global active electronic components market can be attributed to advancements in several other domains such as digital integration, information and communication technologies (ICT), and artificial intelligence.

Keeping on top of these trends will help manufacturers and investors in the industry be aware of untapped market opportunities and stay in front of potential demands for components and be aware of upcoming shortages. This information will make them more prepared to make smart decisions to ensure they stay ahead of the curve.

“The growth of the active electronic components market is also a function of digitalization across leading regions. Several industries are undergoing rapid digital transformation to leverage the benefits of cutting-edge electronic devices, automation technologies, and state of the art systems. Over the course of the next decade, leading industries such as defense and aerospace, cybersecurity, and healthcare are foreseen to induct the most nascent digital technologies,” TMR reported.

Over the course of the next decade, leading industries such as defense and aerospace, cybersecurity, and healthcare are foreseen to induct the most nascent digital technologies. Furthermore, the quest of the electronics and semiconductors industry to tap into the requirements of other industries has also enabled the inflow of fresh revenues into the global active electronic components market.

Several industries are undergoing rapid digital transformation to leverage the benefits of cutting-edge electronic devices, automation technologies, and state of the art systems. Over the course of the next decade, leading industries such as defense and aerospace, cybersecurity, and healthcare are foreseen to induct the most nascent digital technologies.

“The quest of the defense industry to develop premium electronic systems has generated ripples across the global active electronic components market. Active defense systems, automated military technologies, and surveillance devices are some of the core applications of electronics in the defense industry. Moreover, defense industries are also focused on acquiring greater reconnaissance and intelligence to defeat their foes during critical operations. The development of resilient drone systems has also played a vital role in expanding the role of electronics in the defense sector. In view of the factors mentioned herein, it is safe to state that the global active electronic components market would clock in formidable revenues in the times to follow.”

Active Electronic Components Market: Growth Drivers

• Use of cutting-edge electronic devices and systems across medical and healthcare research has given a thrust to market growth.

• The need for accuracy and resilience across the cybersecurity sector has emboldened the use of active electronic components across the globe.

• Development of new technologies for manufacturing compact, miniaturized, and light electronics devices has redefined agility across the electronics industry.

• Growing demand for consumer electronics and compact devices has pressurized electronic manufacturers to elevate their bar of quality.

• Investments in electronic manufacturing have increased by a noticeable chase over the past decade.