Global Test / Burn-in Sockets Strategic Research Report 2024: Market to Reach $2.5 Billion by 2030, Driven by Industrial Semiconductors and Robust Outlook for EVs
Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Test / Burn-in Sockets - Global Strategic Business Report" report has been added to * ResearchAndMarkets.com's* offering.
*Global Test / Burn-in Sockets Market to Reach $2.5 Billion by 2030*
The global market for Test / Burn-in Sockets estimated at US$1.7 Billion in the year 2023, is projected to reach a revised size of US$2.5 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2023-2030.
A Prelude sets the stage for understanding the market outlook and challenges faced by burn-in socket makers in the semiconductor industry. Despite challenges, the market is expected to witness healthy growth, with world semiconductor industry revenue showing steady growth from 2015 to 2022.
The competitive landscape is analyzed, with insights into global key competitors' market share and their presence categorized as strong, active, niche, or trivial in 2023. Recent market activity indicates opportunities driven by the accelerating pace of digital transformation, where survival equates to digital adoption. The evolution of device technology, coupled with the large-scale rollout of 5G technology, presents growth prospects for burn-in testing strategies, highlighting the importance of semiconductors in driving market dynamics.
*The U.S. Market is Estimated at $454.4 Million, While China is Forecast to Grow at 7% CAGR*
The Test / Burn-in Sockets market in the U.S. is estimated at US$454.4 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$552.7 Million by the year 2030 trailing a CAGR of 7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 4.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 218
Forecast Period 2023 - 2030
Estimated Market Value (USD) in 2023 $1.7 Billion
Forecasted Market Value (USD) by 2030 $2.5 Billion
Compound Annual Growth Rate 5.7%
Regions Covered Global
*MARKET OVERVIEW*
· Test / Burn-in Sockets: A Prelude
· Market Outlook
· Challenges for Burn-In Socket Makers
· The Importance of Semiconductors!
· Market to Register Healthy Growth
· World Semiconductor Industry Revenue Growth: 2015-2022
· Competition
· Test / Burn-in Sockets - Global Key Competitors Percentage Market Share in 2023 (E)
· Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
· Recent Market Activity
*MARKET TRENDS & DRIVERS*
· Accelerating Pace of Digital Transformation Drives Opportunities
· COVID-19 Has Created an Environment Where Digital Transformation Equals Survival: Global Digital Transformation Spending (In US$ Billion) for Years 2017 Through 2023
· Winds of Major Changes in Semiconductor Industry & Implications for Burn-In Sockets
· Evolution of Device Technology Demands Parallel Advances for Burn-In Sockets
· Large Scale Rollout of 5G Technology to Boost Market Prospects
· Growing Demand for 5G Chipset Modules Promotes Growth Opportunities for Burn-in Testing Strategies: Global 5G Chipset Market (In US$ Billion) for the Years 2019, 2021, 2023, 2025 & 2026
· Emerging Technologies such as AI Drive Momentum
· Global AI Semiconductor Market (In US$ Billion) for Years 2020, 2023 & 2025
· Industrial Semiconductors to Emerge Into a Key Growth Pocket
· Global Market for Industrial Semiconductors (In US$ Billion) for Years 2020, 2022 & 2024
· Rapid Proliferation of Electronic & Electrical Subsystems in Automobiles Spurs Momentum
· Measuring the Growing Importance of Electronics in Cars: Automotive Electronics as a Percentage of Vehicle Production Cost for the Years 2010, 2020 & 2030
· Increased Motion Sensors, ICs Demand Fuels Demand for Burn-in Sockets
· Chip Shortages to Continue, But Situation Set to Improve
· World Automobile Production in Million Units: 2008-2022
· Robust Outlook for EVs Opens New Opportunities for Growth
· Global Electric Passenger Car Stock (In Million Units) for the Years 2017, 2018, 2019, 2020 & 2025P
· Looking Beyond Current Challenges, the Coming of Age of Autonomous Driving to Spur Growth
· Global Autonomous Vehicle Sales (In Million)
· Growing Proliferation of Consumer Electronic Devices to Drive Demand for ICs Triggering the Need for Burn-In / Test Sockets
· Global Consumer Electronics Market (In US$ Billion) for the Years 2018 through 2024
· Global Smart Homes Market by Category in US$ Billion for the Years 2020 and 2022
· Custom Packages Demand Peps up
· Performance and Reliability of Sockets Highly Critical
*FOCUS ON SELECT PLAYERS**(Total 64 Featured) *
· 3M Company
· E-Tec Interconnect AG
· Mill-Max Mfg. Corporation
· Aries Electronics, Inc.
· Cohu, Inc.
· Advanced Interconnections Corp.
· Loranger International Corporation
· Megatone Electronics Corp.
· JC CHERRY
· INNO GLOABAL
· Micronics Japan
· Contech Solutions
· Johnstech International
· FoundPac
· C.C.P. Contact Probes Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/2jvn1e
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Test / Burn-in Sockets Market
CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900