EMI Shielding Market Trends

Growth Drivers

• Growth in the Automotive Industry – EMI shielding technology is being heavily used in the automotive industry to enhance the user experience. Automatic sliding doors, keyless ignition, remote starters, power seats, and power windows are being enabled by employing EMI shielding. Thus, the rise in the automotive industry is expected to fuel the EMI shielding market growth. For instance, India is all set to possess the 3rd largest automotive sector in the world, with a revenue generation of 200 billion dollars by 2031.
• Rise in the Electronics Industry – As of the surge in the production of electronics across different spectrums such as aerospace, automotive, telecom & IT, healthcare, and consumer electronics, the utilization of EMI shielding is anticipated to rise considerably to prevent the electronics from malfunctioning. Thus, the rise in the electronics industry is estimated to boost market growth further in the coming years. For instance, the revenue generated by the U.S. electronics industry in 2019 stood up at USD 300 billion.
• Increased Focus on Expanding Telecom Services – The increased demand for steady and stable telecom services by emergency responders, police personnel, and hospital workers is considered to be a growth driver for the increased adoption rate of EMI shielding. Thus, the high spending on telecom services is projected to expand the EMI shielding market size. In 2020, approximately, USD 1,550 billion were spent across the world on telecom services.
• Rise in Expenditure on Research and Development Activities – The data shared by the World Bank revealed that 2.63% of the total Gross Domestic Product (GDP) expenditure was made in 2020, an increment from 2018 with only 2.2% of the total expenditure.
• Worldwide Surging Investment in Digitalization – For instance, global investment in digital transformation is estimated to nearly double between 2022 and 2025, from approximately USD 1.7 trillion to USD 2.7 trillion.

Challenges

• High Costs of EMI shielding Process - The cost of testing compliance with the norms of various operations, such as cleaning, loading, and unloading, masking, is typically included in the price of EMI shielding solutions. The ultimate product's overall cost goes up as a result of this added expense, which is anticipated to hamper the market growth during the forecast period.
• Additional Expenses Incurred in the Production Process
• Miniaturization of Electronic Devices