(27 February 2020) A recent study by The Insight Partners concluded, The global micromachining market is estimated to account for US$ 2.86 Bn in 2018 and is expected to grow at a CAGR of 7.6% during the forecast period 2019 – 2027, to account for US$ 5.48 Bn by 2027.
With rising technological advancements in the consumer electronics industry and fast-changing consumer preferences, the market landscape of global consumer electronics is changing fast. The demand for devices with advanced features is witnessing immense growth from both developed as well as developing countries. With rising disposable income levels and falling prices of technology products, the penetration of electronic devices such as smartphones, tablets, washing machines, refrigerators, is increasing at an unprecedented rate.
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(180 – Pages, 54 – Tables, 61 – Figures)
During the past decade, the majority of this growth is driven by emerging markets such as India and China. Technology development is at the core of this industry and the adoption of disruptive technologies such as IoT, blockchain, cloud, augmented reality, and AI is boosting the growth of advanced manufacturing techniques in this industry. In the fast-evolving consumer electronics industry, consumers are demanding more powerful, fast, and smart connected devices. Substantial innovation has been introduced in the industry over the past decade which has greatly contributed to the adoption of various micromachining technologies for efficient production of micro components used in various consumer electronic devices. The continual shift in the consumer behavior, cost structures, and business models has led to the integration of advanced technologies & manufacturing techniques by companies in order to remain competitive in the market.
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The key micromachining market players profiled in this research study include 3D-Micromac AG, 4JET microtech GmbH, IPG Photonics Corporation, KJ Laser Micromachining, OpTek Ltd., Oxford Lasers Ltd, PhotoMachining, Inc., Potomac Laser, Reith Laser B.V., and Amada Miyachi, Inc.
The report segments the global micromachining market as follows:
Global Micromachining Market – By Process
- Laser Machining
- Micromechanical Machining
Global Micromachining Market – By Raw Material
- Metals & Alloys
- Glass & Quartz
Global Micromachining Market – By Application
- Aerospace & Defense
- Semiconductor & Electronics
Global Micromachining Market – By Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of APAC
- Middle EAST & Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
- South America
- Rest of South America (SAM)
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