DUBLIN--(BUSINESS WIRE)--The "The IC Socket Market: Global Growth, Trends, and Forecast (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The IC socket market is expected to witness a CAGR of 9.11% over the forecast period 2019-2024.
IC sockets have become one of the most crucial and widely used components in the production cycle of ICs. Due to the increasing demand for performance and efficiency, the consumption of IC sockets has witnessed rapid growth over recent years.
According to expertise, China is re-engineering its development and innovation processes in a bid to reduce the TTM (time to market) for the new products. By doing this, the trend of miniaturization is becoming a challenge for the IC socket market as they tend to occupy more space and add an extra electrical signal path to the IC device.
- The increasing popularity of enterprise technologies like Big Data, and cloud-based services and the dependency on servers and CPUs with high computing power has been increasing significantly over the past few years further leading to the growth of this market. Companies like Intel and AMD are using new processors. These new processor platforms require socket designs to meet the design requirements and offer higher performance and better system scaling.
- With the advent of the Internet of Things, coupled with an increasing focus on automation in the automotive and manufacturing industries, the IC socket market is expected to grow during the forecast period.
- The trend of miniaturization has been a challenge for the IC sockets market as they tend to occupy additional space and add an extra electrical signal path to the IC device.
Major Market Trends
Consumer Electronics Segment is Expected to Have Significant Growth
Consumer electronics leads the market on account of the massive sales of laptops, smartphones, PCs, tablets, and other consumer electronic devices, which incorporate integrated circuits. These electronic appliances are manufactured with some simple or complex circuits. Electronic components in these circuits are connected with each other by wires or conducting wires for the flow of electric current through the multiple components of the circuit, such as resistors, capacitors, inductors, diodes, and transistors. Owing to the increasing sales of consumer electronics, IC sockets are expected to witness a greater adoption in these devices.
- Sales growth in both smartphones and personal computing systems is being bolstered by increasing memory prices. However, the ongoing decline in shipments of standard personal computers, along with the slow growth of tablets, is aiding the mobile IC sales to override total personal computing sales over the forecast period.
- In the consumer electronics industry, the demand for more precise results, along with smaller chips is rapidly increasing, owing to ascended profit margins and reduced transportation cost.
- With the miniaturization and fabrication of multiple technologies onto a single disk in consumer devices, like smartphones, tablets, wearable's, smart TVs, and gaming consoles, the need for IC's is expected to grow to evaluate the inputs into an actionable function, which can be then followed by the device. The rise in IoT also resulted in increased usage of chips for consumer electronic devices.
Asia-Pacific Expected to Have Significant Growth
Asia-Pacific is expected to have significant growth for this market. Various companies have almost reduced the product development period by half, owing to the changing consumer demands. This trend requires companies to continuously design and test products, driving the adoption of IC sockets.
- China's National Guidelines for the Development and Promotion of the IC Industry," is set to drive investments in the China National IC industry, particularly in the IC design, packing, and testing sectors. The growing level of investment in the fabless, IDMs, foundries, and OSATs in the Asia-Pacific aims to drive the market for ICs.
- Big Data is gaining popularity in China, which is further expected to drive the demand for the enterprise server market.
- The "Made in China 2025" initiative outlines that the nation is aiming to raise its self-sufficiency rate for ICs to 40% in 2020 and 70% in 2025, such initiatives are expected to promote the demand for test and burn ICs.
- Chinese government is planning on improving the healthcare infrastructure, supported by Healthy China 2030. This is expected to impact the adoption of new technologies in healthcare, including AI, big data, and cloud computing, to promote more flexible healthcare, to meet the needs of patients and consumers. Growing adoption of IoT and Big Data has been a significant driver for the market in China, which remains one of the significant end-user segment for IC sockets.
The IC Socket market is neither highly competitive nor has a limited number of players. The IC Socket market is witnessing many mergers and acquisitions among regional players. In the past few years, acquisitions have been one of the major growth strategies of the companies to increase their revenue share in the market.
- December 2017 - TEC Connectivity acquired VOXX International Corporation's subsidiary Hirschmann Car Communication, a leading provider of antennas, antenna systems, and broadcast tuners, for automotive and commercial vehicle applications. The acquisition expanded TE's product portfolio and the integrated, highly engineered solutions they provide for connected and autonomous vehicles worldwide.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Growing Demand for Electronics with High Computing Power
4.3.2 Need for Reduction in Product Development Cycle
4.4 Market Restraints
4.4.1 Growing Demand for Miniaturized Products Poses Challenge to Product Manufacturers
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Dual-in-line Memory Module Sockets
5.1.2 Production Sockets(Land Grid Array, Pin Grid Array, Plastic Leaded Chip Carrier)
5.1.3 Test and Burn-in Sockets
5.1.4 Others Sockets(Ball Grid Array, Dual-in-line Package, Specialty Sockets)
5.2 By End-user Industry
5.2.1 Consumer Electronics
5.2.3 Aerospace & Defense
5.2.4 Automotive & Transportation
5.3.1 North America
5.3.4 Rest of the world
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 TE Connectivity Ltd.
6.1.2 Smiths Interconnect Inc.
6.1.3 Mill-Max Manufacturing Corporation
6.1.4 Aries Electronics Inc.
6.1.5 Yamaichi Electronics Co. Ltd.
6.1.6 Enplas Corporation
6.1.7 Loranger International Corporation
6.1.8 Molex Inc.
6.1.9 Plastronics Socket Company Inc.
6.1.10 Sensata Technologies B.V.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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