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.
Global Integrated Circuit IC Sockets Market Key Driver
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.
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Global Integrated Circuit IC Sockets Market Segments
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.
Major Integrated Circuit IC Sockets Industry Players
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
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Integrated Circuit IC Sockets Market Overview
Integrated circuit sockets refer to hardware components used to connect integrated circuits (ICs) to a printed circuit board (PCB) while allowing for easy replacement or upgrading of the IC without soldering. These sockets ensure a secure electrical connection and facilitate the swapping of ICs in electronic devices.
Integrated Circuit IC Sockets Global Market Report 2023 provides data on the global integrated circuit ic sockets market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The integrated circuit ic sockets market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
