The integrated circuit (ic) sockets global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Integrated Circuit (IC) Sockets Market Size –
The integrated circuit (IC) sockets market size has grown strongly in recent years. It will grow from $1.68 billion in 2023 to $1.83 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased adoption of consumer electronics, the rise of the semiconductor industry, growth in telecommunications, the emergence of IoT devices, the rise of memory devices, and government initiatives for digitalization.
The integrated circuit (IC) sockets market size is expected to see strong growth in the next few years. It will grow to $2.54 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to the expansion of 5G technology, growing demand in the automotive sector, rising proliferation of IoT devices, the emergence of quantum computing, increased investment in data centers, and healthcare sector growth. Major trends in the forecast period include adoption of advanced packaging technologies, development of high-speed low-latency IC sockets, use of eco-friendly materials, customization and specialization, increasing use of AI in design and manufacturing, and collaborations and partnerships.
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Scope Of Integrated Circuit (IC) Sockets Market The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Integrated Circuit (IC) Sockets Market Overview
Market Drivers -The increasing demand for consumer electronics is expected to drive the growth of the integrated circuit (IC) sockets market. Consumer electronics encompass devices used daily for entertainment, communication, or productivity. The shift toward improved products like smartphones, tablets, laptops, and smart home devices enhances user interface design and accessibility, attracting a broader audience. Integrated circuit (IC) sockets are vital for these devices, providing reliable connections for easy upgrades and maintenance, ensuring optimal performance and longevity. In October 2023, the Shanghai Municipal People’s Government projected that China’s consumer electronics retail sales would grow by 4% to reach 2.2 trillion yuan (US$305 billion) in 2023, with an accelerated growth rate of 5% expected in 2024. Consequently, the increasing demand for consumer electronics is driving the growth of the integrated circuit (IC) sockets market, with ongoing impacts through 2028.
Market Trends – Major companies operating in the integrated circuit (IC) sockets market are focusing on shifting toward DDR Memory IC test sockets to meet the growing demand for lower power consumption and improved performance. DDR Memory IC test sockets are specialized connectors that evaluate DDR memory chips that ensure secure electrical connections for testing performance and functionality. For instance, in November 2022, Saudi Basic Industries Corporation, a Saudi Arabia-based manufacturing company, launched LNP Konduit, a new compound designed explicitly for complex DDR memory IC test sockets. This innovative material features a very high thermal conductivity of 1–18 W/mK, which allows for efficient heat transfer and improved thermal stability during testing. Additionally, it offers excellent dimensional stability and a high heat deflection temperature, making it well-suited for the demanding conditions associated with DDR memory IC testing.
The integrated circuit (IC) sockets market covered in this report is segmented –
1) By Type: Dual In-Line Memory Module Sockets (DIMM), Production Sockets, Test Or Burn-In Sockets, Through-Hole Sockets, Surface-Mount Sockets, Zero Insertion Force (ZIF) Sockets, Dual-Row Sockets, Other Types
2) By Application: Memory, Complementary Metal-Oxide-Semiconductor (CMOS) Image Sensors, High Voltage, Radio Frequency (RF), System On Chip (SOC), Central Processing Unit (CPU), Graphics Processing Unit (GPU), Other Non-Memory
3) By Industry Vertical: Home Appliances, Cars And Transportation, Aerospace And Defense, Telecom, Industrial
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Regional Insights – Asia-Pacific was the largest region in the integrated circuit (IC) sockets market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the integrated circuit (IC) sockets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Panasonic Corporation, 3M Company, Texas Instruments Incorporated, Kyocera Corporation, TE Connectivity Ltd., Amphenol Corporation, Omron Corporation, Sensata Technologies B.V., Molex Inc., Würth Elektronik eiSos GmbH & Co. KG, WAGO Kontakttechnik GmbH & Co. KG, Hirose Electric Co. Ltd., Samtec Inc., Smith’s Interconnect Inc., Winchester Electronics Corporation, ept GmbH, Enplas Corporation, Yamaichi Electronics Co. Ltd., Mill-Max Mfg. Corporation, Johnstech International Corporation, Johanson Technology Inc., Harwin PLC, NorComp Inc., Chupond Precision Co. Ltd., CnC Tech LLC, Aries Electronics
Table of Contents
1. Executive Summary
2. Integrated Circuit (IC) Sockets Market Report Structure
3. Integrated Circuit (IC) Sockets Market Trends And Strategies
4. Integrated Circuit (IC) Sockets Market – Macro Economic Scenario
5. Integrated Circuit (IC) Sockets Market Size And Growth
…..
27. Integrated Circuit (IC) Sockets Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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