IC Socket Market - Regional Analysis
Asia Pacific Market Insights
Asia Pacific industry is estimated to hold largest revenue share by 2035. The market is further accelerated by the increasing demand for consumer electronics, automotive electronics, and industrial applications. In the automobile field, automobile corporate groups led by Tesla, BYD, and SAIC Motor are steadily increasing their investments in Southeast Asian countries. Thailand, Malaysia, Indonesia, Vietnam, and the Philippines are attracting a lot of attention and investment enthusiasm. In fact, three-quarters of the world's chip manufacturing capacity is currently concentrated in East Asia, with China expected to account for the largest share of global production by 2030 due to heavy government investment in the sector. The Made in China 2025 guidelines clearly state that China aims to raise its IC self-sufficiency rate to 40% in 2020 and 70% in 2025.
American Market Insights
The IC socket market in America region is predicted to grow substantially through 2035. One of the main drivers of this market is the increasing penetration of electrical devices in multiple industries in this region. The United States, which is a major center of electronics manufacturing and innovation, has been the driving force behind market growth. In addition, a significant market driver for IC sockets is the growing trend of miniaturization within the electronics sector. In line with consumer demand for sleek and lightweight products, the use of reconstituted IC sockets is gaining popularity due to their ability to reduce space in smaller and more compact electronic devices in the region.
