Active Electronic Components Market to soar

Electronic components are essential to industries such as computers, telecommunications, consumer electronics, and many others. Electronic components form electronic circuitry, and are used or manufactured in the electronics field, which is the study of electrical devices used for controlling electrically charged particles or the flow of electrons to execute any electrical operation. Electronic components are also increasingly used in industries such as automotive, medical electronics, aerospace, and defense. Growth in electronic components is tied to the development of technologies and innovations in the electronics industry. Each sector is driven by a key trend that stimulates the growth of the industry. Demand in the telecommunications industry is tied to the expansion of the communications network across the world. The increasing adoption and transition toward 3G/4G technologies and increasing bandwidth in Internet communication have increased the need for electronic devices, thereby leading to the growth of electronic components. The global market for active electronic components reached USD 129.5 billion in 2010. It reached an estimated USD 137.6 billion in 2011 and is expected to reach USD 144.5 billion in 2012. It will further grow to USD 229.8 billion by 2017, increasing at a compound annual growth rate (CAGR) of 9.7% between 2012 and 2017, a new report from BCC Research states. In the consumer electronics sector, growing acceptance and increasing usage of digital entertainment are widespread across the globe. In addition, consumer products such as digital cameras, portable music players, gaming consoles, and so on have contributed to the growth of the electronic products industry. Development in the area of personal computers, such as desktop PCs and laptops, has contributed a major share of growth in the electronics industry. With new software continually being introduced, compatible systems to run the software are required which leads to innovation in new processors and other system components. In the automotive industry, greater adoption of electronic components such as global positioning systems (GPS), enhanced sound systems, car entertainment, and parking and driver assistant systems have led to the increased growth of the electronics industry. Miniaturization and increased functionality with greater performance are the key factors that drive the electronic components market in the aerospace and defense industry. In the medical electronics field, there is a significant increase of electronic equipment in clinics and hospitals used for the early detection of health-related issues and for effective treatments and cure.