ALBANY, New York, March 26, 2019
ALBANY, New York, March 26, 2019 /PRNewswire/ -- Transparency Market Research (TMR) predicts that the global EMI shielding market has a highly fragmented vendor landscape. Key players such as 3M Company, Laird Plc., Chomerics, Marktek Inc., RTP Company, and ETS-Lindgren are some of the players operating in the global EMI shielding market. In order to strengthen their performance, the key players are offering the products in the competitive pricing coupled with focusing on innovation and improved quality products. Additionally, the key players are improving their support services for attracting consumers.
According to TMR, the global EMI shielding market is expected to expand at a CAGR of 6.1% to attain a value of US$9.84 bn by 2025-end. The market acquired a value of US$5.96 bn in the year 2016.
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Based on the end user, the EMI shielding market is segmented into IT and telecommunication, healthcare, automotive, aerospace and defense, and consumer electronics. Of these, the consumer electronics segment dominated the global EMI shielding market and is likely to hold its position over the forecast period. Based on region, North America accounted for a 25% share in 2016 of the overall revenue followed by Asia Pacific in the global EMI shielding market. However, Asia Pacific is expected to expand at a lucrative CAGR due to growing technological progress and growing demand for LEDs in the region.
Growing Consumer Electronics to Propel Growth
Growing penetration of consumer electronics is boosting global EMI shielding market. Additionally, need for the electromagnetic and radio frequencies mainly in the early phase of production of consumer electronics, which is boosting demand for the EMI shielding and likely to drive growth of the global EMI shielding market. Furthermore, rising usage of a number of adaptable solutions including EMI shielding in electronic LEDs and ICs is reflecting toward the growth of the EMI shielding market.
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The growing need for advanced EMI shielding is boosting investments in the consumer electronics sector. Further, a growing government support for advanced technologies is supporting growth of the global EMI shielding market.
The factors such as the growing disposition of 4G/LTE infrastructure are fuelling growth of the global EMI shielding market. Moreover, the growing adoption of electric and hybrid vehicles is favoring growth of the global EMI shielding market. Besides this, rising installation of automotive electronics owing to the rising popularity of in-vehicle communication are creating opportunities for growth in the global EMI shielding market. Growing adoption of V2X technology in automotive electronics is also expected to offer lucrative opportunities for growth of the global EMI shielding market.
Also, factors such as growing industrialization along with growing demand for LEDs globally and especially in the developing countries are reflecting positively on the growth of the global EMI shielding market.
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High Cost of EMI Shielding to Restrain Market Growth
Despite these, high-cost EMI shielding is reflecting negatively on the growth of the EMI shielding market. Strict regulations and policies are limiting EMI shielding and hampering the growth of the market in the near future. Nevertheless, the global EMI shielding market is finding opportunities to overcome these issues as the application of EMI shielding is growing across several end-use industries. Additionally, quick innovation in the global EMI shielding market is boosting ways to increase income over the forecast period.
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This information is encompassed in the report by TMR, titled, "EMI Shielding Market (Materials Type - Conductive Polymers, Conductive Coatings and Paints, Metal Shielding Products, and EMI/EMC Filters; End-use Industry - Telecommunication and IT, Healthcare, Aerospace and Defense, Automotive, and Consumer Electronics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025"
For the study, the EMI shielding market has been segmented as follows:
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