Albany, NY -- (SBWIRE) -- 03/21/2019 -- The global ESD protection devices market was valued at US$ 2,572.1 Mn in 2016 and is projected to register a compounded annual growth rate (CAGR) of over 4.23% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled 'ESD Protection Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.' The report suggests that rising adoption of electronics across the automotive industry, increasing demand for miniature electronic devices that are more susceptible to electrostatic discharge (ESD), and growth in the smartphone penetration are likely to augment the demand for ESD protection devices in the next years i.e. from 2018 to 2026.

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As key market players are introducing new ESD protection devices in developed markets such as North America, Europe, and Asia Pacific, these regions are likely to account for a leading share of the global ESD protection devices market during the forecast period. Rising production of electronic chips and growing consumer electronics industry across emerging markets such as China, Japan, South Korea, and India are likely to boost the ESD protection devices market in Asia Pacific from 2018 to 2026.

Asia Pacific is expected to hold a major share of the global market for ESD protection devices during the forecast period. Major share of the region is primarily attributable to strong presence of well-established players across the region, especially in prominent economies including China, Japan, and South Korea. Asia Pacific is home to several well-established players in the global ESD protection devices market including Murata Manufacturing Co., Ltd. and ROHM SEMICONDUCTOR.

Furthermore, Asia Pacific is witnessing high adoption of ESD protection devices, due to continuously growing consumer electronics industry in the region. Several manufacturers in the region are focusing on enhancing the product quality and trying to capture a wide customer base for additional revenue generation.

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For instance, Murata Manufacturing Co., Ltd. is focusing on improving the performance of its ESD protection devices to be used in applications such as GPS antenna terminals, LTE, and Wi-Fi wireless communication products. Furthermore, the company has improved the performance of its ESD protection products based on ceramic material by 20%. This would offer protection in accordance with the internationally recognized standards pertaining to efficient functioning of ESD protection devices.