Press release
Micromachining Market Highlights, Expert Reviews 2020 to 2027
(12 June 2020) A recent study by The Insight Partners concluded, The global micromachining market is estimated to account for US$ 2.86 Bn in 2018 and is expected to grow at a CAGR of 7.6% during the forecast period 2019 – 2027, to account for US$ 5.48 Bn by 2027.With rising technological advancements in the consumer electronics industry and fast-changing consumer preferences, the market landscape of global consumer electronics is changing fast. The demand for devices with advanced features is witnessing immense growth from both developed as well as developing countries. With rising disposable income levels and falling prices of technology products, the penetration of electronic devices such as smartphones, tablets, washing machines, refrigerators, is increasing at an unprecedented rate.
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During the past decade, the majority of this growth is driven by emerging markets such as India and China. Technology development is at the core of this industry and the adoption of disruptive technologies such as IoT, blockchain, cloud, augmented reality, and AI is boosting the growth of advanced manufacturing techniques in this industry. In the fast-evolving consumer electronics industry, consumers are demanding more powerful, fast, and smart connected devices. Substantial innovation has been introduced in the industry over the past decade which has greatly contributed to the adoption of various micromachining technologies for efficient production of micro components used in various consumer electronic devices. The continual shift in the consumer behavior, cost structures, and business models has led to the integration of advanced technologies & manufacturing techniques by companies in order to remain competitive in the market.
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The key micromachining market players profiled in this research study include 3D-Micromac AG, 4JET microtech GmbH, IPG Photonics Corporation, KJ Laser Micromachining, OpTek Ltd., Oxford Lasers Ltd, PhotoMachining, Inc., Potomac Laser, Reith Laser B.V., and Amada Miyachi, Inc.
The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries including Electronics and Semiconductor, and many more. Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Micromachining Market market globally. This report on ‘Micromachining Market market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The report also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.
The report segments the global micromachining market as follows:
Global Micromachining Market – By Process
Photolithography
Laser Machining
Micro-EDM
Micromechanical Machining
Global Micromachining Market – By Raw Material
Metals & Alloys
Polymers
Glass & Quartz
Ceramics
Global Micromachining Market – By Application
Aerospace & Defense
Medical
Telecommunications
Semiconductor & Electronics
Automotive
Industrial
Others
Global Micromachining Market – By Geography
North America
U.S.
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Rest of Europe
Asia Pacific (APAC)
China
India
Japan
Australia
South Korea
Rest of APAC
Middle EAST & Africa (MEA)
South Africa
Saudi Arabia
UAE
Rest of MEA
South America
Brazil
Argentina
Rest of South America (SAM)
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Email: sales@theinsightpartners.com
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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