Active Electronic Components Market - Increasing demand for energy efficient devices

The need for higher energy efficiency in electronic products along with the emergence of new applications is driving growth of the active electronic components market, which is anticipated to expand at a CAGR of 8.4% during the forecast period from 2015 to 2023.

The overall active electronic component market was valued at US$ 182.9 Bn in 2014. Earlier, these components were confined to be used for applications such as consumer electronics and printed circuit boards. However, nowadays these are dynamically used in applications such as automobile sector, space and satellite technology, and military applications.

Rising trend towards the use of electric and hybrid vehicles and increase in the adoption of renewable energy sources is expected to contribute for high demand for active electronic components in the coming years.

Most of the renewable energy fixtures consist of devices such as solar panels, turbines and invertors. These devices are further composed of active electronic components such as photodiodes and photo-transistors.

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Further, latest technological innovations in the active electronic components have fuelled the demand for miniature handheld devices such as smartphones, tablets and PDA’s. Along with this, miniaturized electronic components are also contributing in the development of smart wearable devices such as smart watches and smart wrist bands.

On the basis of product types, the active electronic components market is segmented into semiconductor devices, display devices and others. In 2014, semiconductor devices segment held a significant share of the active electronic components market and is expected to register robust growth during the coming years.

This growth is due to the increasing demand for energy efficient devices and product innovations in the electronic industry. Semiconductor devices segment of the active electronic components market comprises of diodes, transistors, integrated circuits and optoelectronic components.

Integrated circuits are the most commonly used semiconductor devices which are primarily used in electronic products. Integrated circuits are also widely used in applications such as consumer electronics, radar communication systems and military equipment.

The key applications of display devices include display systems, consumer electronics and medical electronics. In 2014, x-ray tubes accounted for the largest revenue share among the display devices of the active electronic components. In 2014, North America was the largest market for active electronic components globally.

During the coming years, growth of active electronic component market in North America is expected to be supported by the growing use of renewable energy resources and the rising trend towards the use of electric and hybrid vehicles.

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This release was published on openPR.