LONDON--(BUSINESS WIRE)--The global wire bonder equipment market size is expected to grow by USD 170.97 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
The increased need for high-speed processing of vast amounts of data due to advances in IoT has increased the demand for advanced electronic equipment. Additionally, the shift toward autonomous vehicles and electric vehicles is contributing significantly to the rise in the share of electronic equipment in automobiles. Emerging economies, such as India and China, are witnessing a significant rise in smartphone penetration, with low Internet charges. Moreover, emerging economies are working on creating a positive environment for electronics production to increase exports. For instance, in 2018, the Government of India listed the electronics industry as a priority sector under its Make in India campaign. In 2018, about 50% of the electronic products consumed in India were imported. The rise in demand for electronics will lead to the development of various types of data storage equipment with high functionality. Wire binder equipment plays a crucial role in the manufacture of high functionality electronic equipment. Thus, the growing demand for electronics will drive the growth of the market.
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As per Technavio, the rising electronic content in automobiles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Wire Bonder Equipment Market: Rising Electronic Content In Automobiles
The global automotive market has been witnessing high adoption of automotive electronics in the form of functional electronics, regulatory compliance electronics, and differentiating electronics content. Developments in the form of advanced driver assistance systems, telematics, digital cockpit, autonomous vehicles, vehicle-to-vehicle communication, and electric vehicles, among others, are significantly contributing to the adoption of electronic content in modern vehicles. The manufacture of these electronic systems requires precise and reliable wire bonder equipment such as ball and wedge bonder equipment. The growing adoption of all-electric vehicles will drive the demand for wire bonder equipment as these vehicles have complex powertrains and a high level of embedded electronics.
“Factors such as the increase in the number of OSAT vendors, and the growing requirement for semiconductor devices will have a significant impact on the growth of the wire bonder equipment market value during the forecast period,” says a senior analyst at Technavio.
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Wire Bonder Equipment Market: Segmentation Analysis
This market research report segments the wire bonder equipment market by end-user (OSAT and IDM), product (ball-bonders, stud-bump bonders, and wedge bonders), and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the wire bonder equipment market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the presence of several major OSATs such as ASE and STATS ChipPAC, and the strong infrastructure for electronics production.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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