The Active Electronic Components report by Transparency Market Research shows the industry is in for major growth between now and 2026 culminating in a market worth about $522 billion. This is a major increase in the market measured at $263 billion in 2018.

Active electronic components are the integral components of telecom equipment and other networking devices which need an energy source to perform an assigned task.

“The on-going trend towards automation in the automotive sector has increased the demand for various electronic devices, such as driver assistance systems, DC to AC converters, controllers, and power integrated devices, telematics, and Global Positioning Systems (GPS) among others. These devices are widely used in electric vehicles and autonomous vehicles. Hence, with the growing demand for electric cars in view of reducing global carbon emission is estimated to spur the adoption of these electronic devices over the forecast period. As a result, it is further anticipated to increase the overall market growth,” Grand View Research notes.

With the advent of connected technologies, the manufacturing industry is fast transforming. These connected devices help manufacturing facilities to increase the overall productivity and operational efficiency by delivering ease of operability and reducing the overall downtime. Moreover, manufacturing companies are embracing digitalization to streamline the operational processes through remote monitoring. Hence, rising deployment connected devices across manufacturing facilities is expected to boost the active electronic components market growth over the next six years.

The report looks at the various industries using electronic components by country and industry.

One area where there has been a steady climb in use and development of electronic components has been in the automotive industry, especially with the increased popularity of electric vehicles and driverless technology.

Also the impact and ongoing influence of the current pandemic has also contributed to increase in planned component usage.

“Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives,” Grand View Research predicts.