IC Socket Market Globally Grow at a CAGR of 6.21% by Revenue During the Period 2018 – 2023 | Top Key Players (Te Connectivity, 3m Company, Aries Electronics, Chupond Precision, Enplas Corporation, Fci, Foxconn Technology Group, Johnstech International)

The IC socket market is expected to witness a CAGR of 6.21% over the forecast period of 2018u20132023. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, and the rest of the world.

Detailed Sample Copy of Updated Analysis @ https://marketprognosis.com/sample-request/16324

IC sockets have become one of the most crucial and widely used components in the production cycle of ICs. With the increasing demand for performance and efficiency, the consumption of IC sockets has witnessed a rapid growth over the recent years. The growing global demand for consumer electronics has been identified as a major driving force for the growth of the IC sockets market. Over the last few years, the product development cycle has shortened considerably owing to the growing level of competition, which has led to the increased adoption for production and testing sockets. For instance, China is re-engineering its development and innovation processes in a bid to reduce the TTM (time to market) for the new products. However, 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.

The major players include–

TE CONNECTIVITY, 3M COMPANY, ARIES ELECTRONICS, INC., CHUPOND PRECISION CO., LTD, ENPLAS CORPORATION, FCI, FOXCONN TECHNOLOGY GROUP, JOHNSTECH INTERNATIONAL CORPORATION, LORANGER INTERNATIONAL CORPORATION, MILL-MAX MANUFACTURING CORPORATION, MOLEX INC., PLASTRONICS SOCKET COMPANY, INC., SENSATA TECHNOLOGIES B.V., TYCO ELECTRONICS LTD, WIN WAY TECHNOLOGY COMPANY LTD, and YAMAICHI ELECTRONICS CO. LTD, amongst others.

Key Developments in the Market

December 2017: TE 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.

Request Discount on this report @https://marketprognosis.com/discount-request/16324

Asia-Pacific Expected to Grow

Growing adoption of IoT and Big Data have been the major drivers for the data center market in the Asia-Pacific, which remains one of the major end-user segment for IC’s. These 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. Further, 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 over the forecast period.

Rising Demand for Consumer Electronics

Consumer electronics lead 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.

Test/ Burn-in Sockets to Register Significant Growth

During the production phase, all ICs undergo various tests such as burn-in, functional, fuse test, failure analysis, etc., to assess the performance, reliability, and to address potential defects and eliminate early life failures. Burn-in tests are conducted by testing IC devices at 125u00baC for approximately eight hours. Thus, the necessity for burn-in sockets with the ability to withstand high temperature and high insertion/extraction cycles is paramount. Further, as the semiconductor market moves toward denser arrays and smaller IC packaging, there is a pressing need for burn-in and test sockets to incorporate new materials that support finer pitch requirements.

Enquiry Before Buying@ https://marketprognosis.com/enquiry/16324

About Market Prognosis

We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:

ProgMarkPvt Ltd,
Thane - 421501
India.
Contact No:+1 973 241 5193
Email: sales@marketprognosis.com

This release was published on openPR.