Press release
IC Socket Market 2021 Growth, Prominent Players: TE Connectivity Ltd., Smiths Interconnect Inc., Yamaichi Electronics Co., Ltd., Enplass Corporation
The IC Socket Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the IC Socket market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the IC Socket market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the IC Socket market.The IC socket market is expected to witness a CAGR of 9.11% over the forecast period 2021-2026.
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Top Leading Companies of IC Socket Market are - TE Connectivity Ltd., Smiths Interconnect Inc., Yamaichi Electronics Co., Ltd., Enplass Corporation, ISC Co Ltd, Leeno Industrial Inc, Sensata Technologies Inc, Ironwood Electronics Inc, Plastronics Socket Company Inc., INNO Global Corporation and others.
Industry News and Updates:
- March 2020: TE Connectivity Ltd announced the acquisition of First Sensor AG. This tech startup primarily develops and produces sensors for applications, including advanced electronics, pressure, and photonics for industrial, transportation, and medical industry. This acquisition will allow the company to leverage its combined expertise to provide a broader range of products, including sensors, connectors, and sockets. The company aims to leverage the acquisition as part of the growth strategy.
Key Market Trends:
Consumer Electronics Segment is Expected to Have Significant Growth
- Consumer electronics lead the market on account of the massive sales of laptops, smartphones, PCs, tablets, and other consumer electronic devices that incorporate integrated circuits. These electronic appliances are manufactured with some simple or complex circuits. Electronic components in these circuits are connected by wires or conducting wires for the flow of electric current through the circuit's multiple components, such as resistors, capacitors, inductors, diodes, and transistors. Due 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.
Asia-Pacific Expected to Have Significant Growth
- Asia-Pacific is expected to have significant growth in 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.
- Countries in the region, including China, have the most significant markets for the ICs and IC test sockets, owing to its dominance in the manufacturing of the global semiconductor industry, consumer electronic industry, and communication equipment, among others. The country is also one of the major investors in the global automotive manufacturing industry. Along with these, favorable government policies and initiatives and motivating many domestic players to increase their investment in the region.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- IC Socket Market Size & Analysis (2016 - 2026)
- Market Share Analysis of IC Socket Market (%),2016 - 2026
- IC Socket Market Share, By Brand
- IC Socket Market Share, By Company
- IC Socket Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies IC Socket Market Value Analysis & Forecast
- Promising IC Socket Development by Major Companies
- Detailed IC Socket Portfolio of the Major Companies
- Major Deals in the IC Socket Market
- Major Companies Analysis
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- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
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Irfan Tamboli (Head of Sales) – Market Insights Reports
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sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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