Electronic packaging is the design and manufacture of enclosures for electronic equipment, from single semiconductors to whole systems like mainframe computers. This guards against cooling, radio frequency noise emission, mechanical damage, and electrostatic discharge. In order to protect against dust, corrosion, water, and electrostatic discharge, efficient electrical and semiconductor packaging is employed throughout the manufacture of consumer electronics, including TVs, tablets, smartphones, set-top boxes, and digital media converters. It is utilized in a variety of army and aerospace facilities that employ semiconductor devices, such as information handling units, information screen systems, and aircraft control units, since it allows lowered board size, weight, and PCB routing complexity.
According to SPER market research, ‘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%.
One of the primary drivers of market development and demand for the electronic packaging industry is the increasing need for consumer electronics on a worldwide scale. 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 growing usage of digital cameras, smartphones, tablets, wearable devices, televisions, and other consumer electronics is the primary driver of the business. To keep them safe from bad weather, these goods also include creative packing materials like bubble wrap and air cushions. Weatherproof packaging is required for electrical instruments that are fragile.
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Among the problems hindering the market’s growth and reducing the number of major competitors are worries about heat dissipation and the initially expensive cost of electronic packaging. However, the market for electronic packaging is growing due to the aerospace and defence industries’ need for improved military-grade packaging. These goods include naval battleships, data display systems, armament control systems, aircraft guidance-control components, and satellite communication on-board channels. 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.
Impact of COVID-19 on Global Consumer Electronics Packaging Market
The coronavirus pandemic (COVID-19) has already significantly impacted consumer electronics sales and the future for the sector. Because more people are working from home, several industries, including computers and accessories, have profited from increased sales. Due to the pandemic’s psychological and economic effects, consumer confidence will be significantly reduced, which will have a detrimental effect on expensive goods like televisions.
Global Consumer Electronics Packaging Market Key Players
Geographically, North America has taken the lead in the consumer electronics packaging business and is home to the majority of well-known electronics companies. Manufacturers need well-established supply networks to effectively launch new goods and satisfy ever-increasing consumer demand. Furthermore, frictionless import and export of packaging materials and completed items across nearby nations is made possible by trade agreements like the USMCA. The key market players are SONOCO Products Company, Stora Enso Oyj, Westrock Company.
Consumer Electronics Packaging Market Segmentation:
By Type: Based on the Type, Global Consumer Electronics Packaging Market is segmented as Corrugated boxes, paper board boxes, thermoformed trays, blister packs and clamshells.
By Material Type: Based on the Material Type, Global Consumer Electronics Packaging Market is segmented as; Plastic, paper and paperboard.
By Application: Based on the Application, Global Consumer Electronics Packaging Market is segmented as; Mobile phones, Computer, TVs, DTH, and Set Top Boxes, Music Systems, Printers, Scanners and Photocopy machines, Camcorders and cameras, Game Consoles and toys, electronics wearables.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Electronics Packaging Market Competitive Analysis
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