PUBLISHER: The Business Research Company | PRODUCT CODE: 1455282
PUBLISHER: The Business Research Company | PRODUCT CODE: 1455282
Miniaturized electronics pertain to electronic components, devices, and systems that have undergone significant size reduction while preserving or enhancing their functionality. This involves capitalizing on technological advancements, materials innovation, and refined manufacturing techniques to decrease the physical dimensions of electronic elements and assemblies.
The primary outcomes of miniaturized electronics include scaled-down electronic components and miniaturized electronic devices. Scaled-down electronic components denote reduced-size versions of traditional electronic parts or modules engineered to occupy less physical space while maintaining or improving performance. They are distributed through hypermarkets, supermarkets, specialty stores, multi-brand stores, online retailers, wholesalers, distributors, and others catering to various industries such as electronics and semiconductor, healthcare and medical devices, automotive, aerospace and defense, consumer goods and retail, industrial manufacturing, telecommunications, and more.
The miniaturized electronics market research report is one of a series of new reports from The Business Research Company that provides miniaturized electronics market statistics, including miniaturized electronics industry global market size, regional shares, competitors with a miniaturized electronics market share, detailed miniaturized electronics market segments, market trends and opportunities, and any further data you may need to thrive in the miniaturized electronics industry. This miniaturized electronics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The miniaturized electronics market size has grown rapidly in recent years. It will grow from $42.75 billion in 2023 to $47.25 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The expansion witnessed in the historical period can be ascribed to the increasing demand for consumer electronics, the trend of miniaturizing medical devices, the integration of electronics in the automotive sector, the application of electronics in military and aerospace contexts, and the rapid proliferation of Internet of Things (IoT) devices.
The miniaturized electronics market size is expected to see strong growth in the next few years. It will grow to $66.57 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period can be ascribed to the expansion of edge computing, the development of flexible and stretchable electronics, the increasing use of biomedical implants for health monitoring, and the integration of energy-efficient electronics in edge devices. Significant trends expected in the forecast period encompass the integration of 5G technology, the rise of wearable technology, advancements in semiconductor technology, the progress of bioelectronics and medical implants, as well as the adoption of energy harvesting technologies.
The anticipated surge in demand for consumer electronics products is poised to drive the growth of the miniaturized electronics market in the foreseeable future. Consumer electronics encompass a wide range of electronic devices and gadgets designed for everyday use, catering to individual needs. Miniaturized electronics leverage advanced technologies, contributing to enhanced performance metrics such as processing power, energy efficiency, and functionality. This allows consumers to experience more powerful features within smaller, compact devices. For example, data from the Bureau of Labor Statistics, a US federal agency, indicates a notable increase in the average annual expenditures for consumer electronics in 2022, reaching $1,380-an uptick of 5.8% from the previous year. This rise in consumer spending underscores the growing demand for electronic products, thus fueling the expansion of the miniaturized electronics market.
The escalating demand for smartphones and tablets is poised to further contribute to the growth of the miniaturized electronics market. Smartphones, handheld electronic devices combining mobile phone functionality with various computing features, and tablets, portable computing devices with touchscreen interfaces, are witnessing increased popularity. Miniaturized components play a pivotal role in the development of compact and lightweight smartphones and tablets, enhancing their portability for on-the-go use. As an illustration, a report by Uswitch Limited, a UK-based comparison and switching service, revealed that in February 2023, there were 71.8 million active mobile connections in 2022, marking a 3.8% increase from 2021. With projections indicating 68.3 million people in the UK by 2025, and 95% of them expected to possess smartphones, the heightened demand for these devices is a key driver fueling the growth of the miniaturized electronics market.
Limited availability of skilled workers is anticipated to hinder the expansion of the miniaturized electronics market. A skilled workforce comprises individuals or employees possessing elevated levels of expertise, proficiency, and specialized knowledge in a specific field or occupation. The advancement of cutting-edge technologies and the development of more sophisticated and compact electronic devices are hampered by a scarcity of skilled professionals crucial for designing and innovating miniaturized electronic components. For example, in November 2023, as reported by the US-based government agency, the Bureau of Labor Statistics, the number of hires decreased to 5.5 million, reflecting a decline of 363,000. Simultaneously, both the number of hires and total separations decreased to 5.5 million and 5.3 million, respectively. Hence, the limited availability of skilled workers is obstructing the growth of the miniaturized electronics market.
Leading companies in the miniaturized electronics market are investing in the development of innovative products such as the uHVA series as a strategic move to gain a competitive edge. The uHVA series, a family of miniature, bi-polar, zero-crossing high voltage amplifiers capable of generating high voltages up to +-5kV, exemplifies this trend. For example, in March 2023, UK-based electronic manufacturer Luso Electronics introduced the uHVA series, specifically designed for user-friendly operation without the need for external components. This versatile product caters to various applications, including mass spectrometry, electrostatic chucks, pockel cells, electron microscopes, and threat detection. The improved end-user experience not only enhances patient availability, engagement, and the uptake of care services but also reduces the necessity for in-person appointments or visits.
In February 2022, US-based semiconductor company Advanced Micro Devices Inc. successfully acquired Xilinx for a significant sum of $35 billion. This acquisition strategically combines AMD's expertise in CPUs and GPUs with Xilinx's specialization in Field Programmable Gate Arrays (FPGAs) and adaptive System on a Chips (SoCs). The resulting entity is now larger and more diversified, positioning it effectively to meet the growing demand for adaptive computing capabilities across diverse industries, including the miniaturized electronics market. Xilinx, a US-based semiconductor company at the forefront of developing miniaturized electronics, played a pivotal role in this acquisition.
Major companies operating in the miniaturized electronics market report are Apple Inc., Samsung Electronics Co. Ltd., Amazon Web Services Inc., Intel Corporation, Ingram Micro, Qualcomm Inc., Jabil Inc., Micron Technology Inc., Molex LLC, Super Micro Computer Inc., Elis SA, ROHM Co. Ltd., Cadence Design Systems Inc., Abrisa Technologies, Allegro MicroSystems Inc., eInfochips, LaCroix, Nordic Semiconductor, Distrelec Ltd., AEG Power Solutions, Tech Etch Inc., Nano Dimension, Pelonis Technologies Inc., MacDermid Alpha Electronics Solutions, Minalex Corporation, Micro-Hybrid Electronic GmbH
Asia-Pacific was the largest region in the miniaturized electronics market in 2023. The regions covered in the miniaturized electronics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the miniaturized electronics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The miniaturized electronics market consists of sales of integrated circuits (ICs), system-on-chip (SoC), microelectromechanical systems (MEMS), flexible electronics, printed electronics, nanoelectronics, and microprocessors and microcontrollers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Miniaturized Electronics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on miniaturized electronics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for miniaturized electronics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The miniaturized electronics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.