Consumer Electronics Packaging Market Growth, Revenue, Trends, Business Challenges, and Investment Forecast by 2033: SPER Market Research
The design and production of enclosures for electronic equipment, ranging from individual semiconductors to entire systems such as mainframe computers, is known as electronic packaging. This prevents electrostatic discharge, mechanical damage, cooling, and radio frequency noise emission. Efficient electrical and semiconductor packaging is used throughout the production of consumer electronics, including TVs, tablets, smartphones, set-top boxes, and digital media converters, to protect against dust, corrosion, water, and electrostatic discharge. Because it enables decreased board size, weight, and PCB routing complexity, it is used in a range of army and aerospace facilities that use semiconductor devices, such as information handling units, information screen systems, and aircraft control units.
According to SPER market research, ‘Global Consumer Electronics Packaging Market– By Type, By Material Type, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Global Consumer Electronics Packaging Market is predicted to reach USD 58.49 billion by 2033 with a CAGR of 10.16%.
The growing global requirement for consumer electronics is one of the main factors propelling market growth and demand for the electronic packaging sector. The growing worldwide smartphone population is contributing to the sector’s expansion, according to the Electronic Packaging Market Forecast. Together with the growing use of IoT and wireless devices worldwide, these technological breakthroughs are driving growth in the electronic packaging industry. The main factor driving the business is the rising demand for consumer electronics such as wearables, televisions, digital cameras, smartphones, tablets, and other devices. These products also come with inventive packaging materials like bubble wrap and air cushions to protect them from inclement weather. Fragile electrical devices must be packaged in a waterproof manner.
Concerns over heat dissipation and the initially high cost of electronic packaging are two issues impeding the market’s expansion and main competitors’ decline. Nonetheless, the necessity for better military-grade packaging in the aerospace and defense sectors is driving growth in the market for electronic packaging. Battleships for the navy, data display systems, artillery control systems, aircraft guidance-control parts, and satellite communication on-board channels are some examples of these commodities. It is anticipated that the market for IoT networks will grow, and that further research and development efforts aimed at enabling more effective semiconductor and electronic packaging would likely open up new economic opportunities for the electronic packaging sector. Once components are placed onto the circuit board, reliability problems like as stress sensitivity and complex, difficult defect rectification may still arise.
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Sales of consumer electronics and the industry’s prospects have already been greatly damaged by the coronavirus pandemic (COVID-19). Numerous companies, including those that deal with computers and accessories, have benefited from higher sales as more people choose to work from home. Consumer confidence will be severely lowered as a result of the psychological and economic repercussions of the epidemic, which will negatively impact pricey items like televisions.
Geographically, North America has taken the lead in the consumer electronics packaging business and is home to the majority of well-known electronics companies. For manufacturers to successfully introduce new products and meet the constantly rising demands of consumers, they require well-established supply networks. Furthermore, trade agreements like the USMCA enable the seamless import and export of finished goods and packaging materials across neighboring countries. The key market players are SONOCO Products Company, Stora Enso Oyj, Westrock Company.
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Consumer Electronics Packaging Market Share
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