Albany, NY -- (SBWIRE) -- 11/15/2017 -- The presence of participants in a large number is making the global Electromagnetic (EMI) Shielding Market highly competitive and fragmented, states a new report by Transparency Market Research (TMR). The leading players, such as Laird Plc., Chomerics, 3M, RTP Co., ETS-Lindgren, Marktek Inc., Tech-Etch Inc., HEICO Corp., Omega Shielding Products, and Schaffner Group, heavily rely on product innovation support services, competitive pricing, quality, and, performance to gain a strong foothold in this market. Going forward, these companies are anticipated focus on strategic alliances to expand their reach and strengthen their position in this market over the next few years, states the research report.
As per the report, the worldwide market for EMI shielding is expected to progress at a CAGR 6.10% during the period from 2017 to 2025, surging from US$5.9 bn in 2016 to US$9.8 bn by the end of the forecast period. The demand for EMI shielding solutions is significantly high in the consumer electronics segment and is expected to remain so in the near future due to the rising demand among consumers for various sophisticated smart electronic gadgets, such as tablets and mobile phones. In terms of geography, the global EMI shielding market is currently led by Asia Pacific. Researchers anticipate this scenario to remain more or less same over the next few years, as the technology and the consumer electronics sector in this region is continuously booming, notes the market study.
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Increasing Investments in Consumer Electronics to Boost Market
"The global EMI shielding market is gaining significantly from the augmenting demand for consumer electronics," says a TMR analyst. "During the early phase of consumer electronics production, radio frequencies and electromagnetic interference have to be factored in, which demands EMI shielding materials in various methods and techniques," he added. Apart from this, the increasing usage of EMI shielding technology and various adaptable solutions in light emitting diode (LED) displays and electronic integrated circuits by manufacturers in an effort to remain competitive is also boosting this market substantially.
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Furthermore, increasing investments in consumer electronics across the world and rise in government support, in terms of capital, are likely to propel the global EMI shielding market significantly over the next few years. With the surge in technological advancements, the usage of EMI shielding in a number of defense and aerospace applications is also projected to drive the growth of this market over the forecast period, states the research report.
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Stringent Regulations to Pose as Restraints
On the other hand, the increasing implementation of stringent rules and regulations is anticipated to create negative impact on the growth of global market for EMI shielding in the years to come. However, the high pace of innovation and escalating application of EMI shielding solutions across a number of end-use industries is predicted to normalize the effects of these restraints over the next few years, reports the market study.