The integrated circuit (IC) sockets market size has shown robust growth recently, expected to increase from $1.68 billion in 2023 to $1.83 billion in 2024, representing a CAGR of 8.5%. This historical growth can be attributed to the rising adoption of consumer electronics, the expansion of the semiconductor industry, the growth of telecommunications, the emergence of IoT devices, the rise of memory devices, and government initiatives aimed at digitalization. Looking ahead, the market is projected to grow significantly, reaching $2.54 billion in 2028 at a CAGR of 8.6%. Factors contributing to this anticipated growth include the expansion of 5G technology, increasing demand within the automotive sector, a proliferation of IoT devices, advancements in quantum computing, heightened investment in data centers, and growth in the healthcare sector. Major trends expected to emerge during the forecast period encompass the adoption of advanced packaging technologies, the development of high-speed low-latency IC sockets, the use of eco-friendly materials, customization and specialization, a growing reliance on AI in design and manufacturing, and increased collaboration and partnerships.
Major Driver In The Integrated Circuit IC Sockets Market
The rising demand for consumer electronics is anticipated to drive growth in the integrated circuit (IC) sockets market. Consumer electronics encompass a wide range of devices used daily for entertainment, communication, or productivity. The shift towards 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 essential for these devices, ensuring reliable connections for easy upgrades and maintenance, thereby optimizing 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 (approximately US$305 billion) in 2023, with an accelerated growth rate of 5% anticipated in 2024. Therefore, the increasing demand for consumer electronics is expected to drive the integrated circuit (IC) sockets market, which is projected to reach $2 billion in 2023, $2.5 billion in 2024, and $3.5 billion by 2028.
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Integrated Circuit IC Sockets Market Competitive Landscape
Major companies operating in the integrated circuit (IC) sockets 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
Key Integrated Circuit IC Sockets Market Trend
Major companies in the integrated circuit (IC) sockets market are transitioning to DDR Memory IC test sockets to accommodate the increasing demand for lower power consumption and enhanced performance. DDR Memory IC test sockets are specialized connectors used for assessing DDR memory chips, ensuring secure electrical connections to evaluate their performance and functionality. For example, in November 2022, Saudi Basic Industries Corporation, a manufacturing company based in Saudi Arabia, introduced LNP Konduit, a new compound specifically designed for complex DDR memory IC test sockets. This innovative material boasts a high thermal conductivity of 1–18 W/mK, facilitating efficient heat transfer and improved thermal stability during testing. Additionally, it offers exceptional dimensional stability and a high heat deflection temperature, making it ideal for the rigorous conditions associated with DDR memory IC testing.
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Global Integrated Circuit IC Sockets Market Segmentation
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
By Geography:The regions covered in the integrated circuit (IC) sockets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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 Integrated Circuit IC Sockets Global Market Report 2024 furnishes information about the global integrated circuit ic sockets market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
