- The value of the global active electronic components market was pegged at $252.54 billion in 2018 as per the report
- These projections are due to 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
The global active electronic components market will grow at a CAGR of 8.4 per cent for the forecast period ranging from 2019 up to 2027 as per a report by Transparency Market Research. The value of the global active electronic components market was pegged at $252.54 billion in 2018 as per the report.
These projections are due to 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. Advancements in the technological fabric of the world shall reflect in the form of growth across the global active electronic components market.
Manufacturers of electronic devices follow meticulous approaches to develop archetypes and 3D models for the end products. It has helped these entities ensuring seamless control over the manufacturing process, while also having quality, accuracy, and resilience in manufacturing.
The report added, “Several manufacturers have deployed dedicated teams for product designing and development, enabling them to gather comprehensive insights about the entire manufacturing process. Henceforth, the global active electronic components market is projected to grow at a stupendous pace in the years to follow.”
Digitalisation across leading regions
The growth of the active electronic components market is also a function of digitalisation across leading regions. The report added that 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 report states, “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. Government entities and private stakeholders are investing electronic manufacturing with the intent to mint fresh revenues.”
As per the report, 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. 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.
