Press release
Miniaturized Electronics Market on Track for Strong Growth, Estimated to Grow at 8.5% CAGR Through 2029
Miniaturized Electronics
What Is the Expected CAGR for the Miniaturized Electronics Market Through 2025?
The market size for miniaturized electronics has shown swift expansion in the recent past. The projected growth from $47.25 billion in 2024 to $52.06 billion in 2025 displays a compound annual growth rate (CAGR) of 10.2%. Factors that have contributed to this growth historically include the demand for consumer electronics, the reduction in size of medical devices, integration of electronics in the automotive sector, applications in the military and aerospace industries, and the accelerated growth of Internet of Things (IoT) devices.
What's the Projected Size of the Global Miniaturized Electronics Market by 2029?
The market size of miniaturized electronics is predicted to witness substantial expansion in the following years, with expectations to reach $72.07 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.5%. The predicted growth during the forecast period can be credited to the spread of edge computing, developments in flexible and stretchable electronics, biomedical implants, and health monitoring, along with the incorporation of energy-efficient electronics and AI in edge devices. Key trends anticipated during the forecast period are the integration of 5g technology, the rise of wearable technology, breakthroughs in semiconductor technology, bioelectronics, medical implants, along with the evolution of energy harvesting technologies.
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Top Growth Drivers in the Miniaturized Electronics Industry: What's Accelerating the Market?
The growth of the miniaturized electronics market is anticipated to be fueled by the increasing need for consumer electronics items. Consumer electronics are electronic devices and gadgets developed for everyday use by individuals. Utilizing cutting-edge technologies, Miniaturized electronics enhance performance in processing power, energy efficiency, and functionality, enabling users to experience stronger features in compact devices. The Bureau of Labor Statistics, a federal agency in the US, reports that the average annual spending on consumer electronics in 2022 was $1,380, marking a 5.8% increase from the previous year. Therefore, the escalating demand for consumer electronic products is a catalyst for the growth of the miniaturized electronics market. The miniaturized electronics market is also anticipated to prosper due to the increasing demand for smartphones and tablets. Smartphones, handheld electronic devices that merge mobile phone functionality with various features typically found in computing devices, and tablets, portable computing devices characterized by a touchscreen interface and a size larger than a smartphone but smaller than a conventional laptop or desktop computer, rely on miniaturized components. These components make smartphones and tablets more compact and lightweight, enhancing their portability and allowing users to carry them effortlessly in pockets or bags for use on-the-go. Uswitch Limited, a UK-based online and telephone comparison and switching service, reported in February 2023 that there were 71.8 million active mobile connections in 2022, signifying a growth of 3.8% from 2021. Moreover, 95% of the projected UK's population of 68.3 million people by 2025, will have smartphones. Consequently, increased demand for smartphones and tablets is leading to the expansion of the miniaturized electronics market.
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What Trends Will Shape the Miniaturized Electronics Market Through 2029 and Beyond?
In their pursuit for a competitive edge in the miniaturized electronics market, premier companies are launching ground-breaking products like the uHVA series. The uHVA series, a set of miniature, bi-polar, zero-crossing high voltage amplifiers, can produce a high voltage reaching up to ±5kV. Luso Electronics, an electronic manufacturer based in the UK, launched the uHVA series in March 2023. This product requires no additional exterior components and is user-friendly. It can be deployed in diverse applications such as mass spectrometry, electrostatic chucks, pockel cells, electron microscopes, and threat detection. By enhancing the end user experience, the series increases the accessibility, interaction, and use of care services by patients and reduces the necessity for physical visits or appointments.
What Are the Main Segments in the Miniaturized Electronics Market?
The miniaturized electronics market covered in this report is segmented -
1) By Product: Miniaturized Electronic Components, Miniaturized Electronic Devices
2) By Distribution Channel: Hyper markets Or Super markets, Specialty Stores, Multi-Brand Stores, Online Retailers, Wholesalers And Distributors, Other Channels
3) By End User: Electronics And Semiconductor, Healthcare And Medical Devices, Automotive, Aerospace And Defense, Consumer Goods And Retail, Industrial Manufacturing, Telecommunications, Other End Users
Subsegments:
1) By Miniaturized Electronic Components: Miniaturized Capacitors, Miniaturized Resistors, Miniaturized Inductors, Miniaturized Semiconductors, Microchips And Microprocessors, Miniaturized Connectors
2) By Miniaturized Electronic Devices: Wearable Devices, Smartwatches And Fitness Trackers, Hearing Aids, Medical Devices, Portable Consumer Electronics
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Which Top Companies are Driving Growth in the Miniaturized Electronics Market?
Major companies operating in the miniaturized electronics market report are Apple Inc., Samsung Electronics Co. Ltd., Amazon Web Services Inc., Intel Corporation, Ingram Micro, Qualcomm Inc., Jabil Inc., Micron Technology Inc., Molex LLC, Super Micro Computer Inc., Elis SA, ROHM Co. Ltd., Cadence Design Systems Inc., Abrisa Technologies, Allegro MicroSystems Inc., eInfochips, LaCroix, Nordic Semiconductor, Distrelec Ltd., AEG Power Solutions, Tech Etch Inc., Nano Dimension, Pelonis Technologies Inc., MacDermid Alpha Electronics Solutions, Minalex Corporation, Micro-Hybrid Electronic GmbH
Which Regions Will Dominate the Miniaturized Electronics Market Through 2029?
Asia-Pacific was the largest region in the miniaturized electronics market in 2024. The regions covered in the miniaturized electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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