Global Electro Static Discharge (ESD) Packaging Market: Market Research by Knowledge Sourcing Intelligence
The global Electro Static Discharge (ESD) packaging market is projected to witness a growth at a CAGR of 7.25% during the forecast period to reach a total market size of US$2.971 billion by 2022, increasing from US$4.216 billion in 2017. Miniaturization of electronic devices in tandem with the growing demand for convenient and innovative electronic products is a key factor driving the ESD packaging market growth. Moreover, burgeoning demand for smart devices along with higher internet penetration and increasing investments in ICT infrastructure is further contributing to the ESD packaging market growth. In addition, technological advancements in the automotive industry are spurring up the demand for semiconductor wafers and multiple types of ICs for various applications. However, strict regulations for specific materials may restrain the ESD market growth prospect. Continuous technological advancement and high-speed innovation coupled with expanding electronics sector are creating numerous opportunities for ESD packaging vendors over the projected period. Geographically, Asia Pacific ESD Packaging market is projected to witness the fastest regional growth over the projected period owing to the growing consumer electronics market, especially in developing countries like China, India, and South Korea. Moreover, Japan is one of the most technologically advanced nations is also expected to contribute to the regional growth contributed by robust R&D environment and presence of a large number of key enterprises catering to regional and global demand.
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Global Electro Static Discharge (ESD) Packaging Market by Geography:
Geographically, global ESD Packaging market is segmented as Americas, Europe Middle East and Africa, and the Asia Pacific. Americas accounted for the largest market share in 2016 owing to the presence of several major ESD packaging vendors such as Dow Chemicals, Desco Industries, and Miller Supply, Inc. along with the early adoption of new technology across various end-user industries in the region. European ESD Packaging market will also witness considerable growth during the projected period majorly due to booming aerospace and defence industry in the region. Per EU estimates, there is an anticipation of 4.8% annual growth in passenger traffic in the European region over the coming years, and the EU aerospace sector needs to be ready to meet this demand which includes innovation, fleet enlargement, and large aircraft size. Furthermore, the presence of many private enterprises and aerospace companies in EU countries such as France coupled with favorable government initiatives to encourage R&D in the region will also boost the ESD Packaging demand over the next five years.
Americas ESD Packaging market is projected to grow from US$XXX billion in 2016 to US$XXX billion in 2022 at a CAGR of XX% during the forecast period. The market is further segmented as North America and South America, with the latter growing at a higher CAGR between 2017 and 2022. North America held the largest market size in 2016 and will continue its dominance until the end of the forecast period. The high adoption rate of new technologies in developed countries such as the U.S. and Canada coupled with high investment in R&D is contributing to the market growth. The growth of North American ESD Packaging market is significantly contributed by the healthcare industry in the region. According to the Select USA, the U.S. government-wide program established to facilitate business investment in the U.S., the country remains the largest medical device market in the world, with the market share of about 43% of the global medical device market in 2015. Growing geriatric population and rising incidences of obesity and other lifestyle-related medical conditions in North American countries such as the U.S., Canada, and Mexico is driving the demand for advanced medical devices in the region. The market research provides a detailed analysis of global esd packaging market on the basis of the various segment like- by geography, by end-users, etc.
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Global Electro Static Discharge (ESD) Packaging Market by End-users:
By end-user, global ESD Packaging market is segmented as the consumer electronics industry, aerospace and defense industry, automotive industry, communication network infrastructure, computer peripherals, computer peripherals, healthcare industry, and others. Amongst these segments, the consumer electronics industry held the highest market share in 2016 and is expected to grow at a high rate over the projected period. This growth is majorly driven by the rising adoption of smart devices, especially in developing countries like India and China due to their large population base. The growing need for miniaturization of electronics devices further contributes to this segment’s growth. Likewise, the automotive industry is also expected to grow at a high rate owing to high adoption of technology in automobiles. The rising healthcare spending and high-speed innovation of advanced equipment in the healthcare industry are expected to propel the need for ESD packaging while up-surging the segment growth.
Consumer electronics industry segment of the global ESD Packaging market is estimated to grow at the highest CAGR over the projected period primarily because of increasing demand for consumer electronics and electrical parts across various end-user industries. Factors like increasing disposable income, declining cost of consumer electronics devices and high-speed innovation, is propelling the growth of these devices globally. Moreover, the availability of innovative mobile technologies coupled with the growing number of connected devices is further boosting the industry’s growth while driving the demand of ESD packaging over the forecast period. In addition, miniaturization of electronic devices over the years is augmenting the demand for small and compact size devices across different industry sectors. This trend is pressurizing consumer electronics vendor manufacturers to deploy small ICs and other components to reduce the overall size of the device. The global ESD packaging market is packed with well diversified with local, regional and international players providing innovative solutions for consumer electronics.
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Various industry verticals are developing their own IoT devices and investing in IT infrastructure capable of supporting the modern technological demand, and thus boosting the demand for electronic hardware.
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