Active Electronic Components Market to Reach $230 Billion by 2017

Online research company, Market Research.com has announced that it has released a new report titled “Active Electronic Components: Technologies and Global Markets—Focus on North America”.

According to the report, the global electronic component market attained $129.5 billion in 2010, $137.6 billion in 2011 and is estimated to reach $229.8 billion by 2017 through a compound annual growth rate of 9.7%.

Major developments in the electronics industry have led to the introduction of various equipment for digital entertainment. Additionally the usage of consumer electronics such as gaming consoles, cameras, and portable music players has also contributed towards the growth of the industry. Such developments have enabled manufacturers to use more electronic components like enhanced sound systems, parking and driver assistant systems, global positioning systems and car entertainment systems. Other fields where electronic components are used are medical electronics in the form of electronic equipment, which are used in hospitals and clinics. The defence and the aerospace industry also benefit greatly from increased usage of electronic equipment since they can be made highly functional. The electronics industry is also moving towards 3G and 4G technologies and focussing on increasing internet bandwidth, thus creating enhanced demand for electronic components.