According to a new market research report published by Credence Research “Dual-In-Line Memory Module Sockets Market (Product Type –FB DIMM, DDR, SDRAM), (Application- Consumer Electronics, Automotive, Medical, Defense)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall dual-in-line memory module Sockets market worldwide is set to grow with a CAGR of 15.0% during the forecast period.
The dual-in-line memory module sockets market is highly driven by the increasing demand of integrated circuits and memory devices. Notably, the integrated circuits market is growing at an annual rate of 9.0%. Dual-in-line memory module (DIMM) is a module that comprise of one or several random access memory (RAM) chips on a small circuit board with pins that connect it to the motherboard of the device. The market is vividly backed by wider application of these sockets in consumer electronics, automotive, defense and medical. Owing to these reasons, we expect dual-in-line memory module socket market to grow with a rapid pace throughout the forecast period from 2019-2027.
Based on application, the consumer electronics segment is set to led the segment. Backed by growth in sales of smartphones and personal computing systems the demand for memory systems has risen. Further, the demand for more precise and quick results, along with smaller chips is rapidly increasing. The major factor behind this is soared profit margins. Similarly the rise in IoT and cloud based servers has also resulted in increased usage of such sockets for consumer electronic devices. Backed by the aforementioned reasons, the consumer electronics segment shall drive the dual-in-line memory module sockets market.
Based on the geography, North America leads with major share in dual-in-line memory module sockets market. This is due to huge investments in technological advancements and significant demand for memory based devices in the region. Further, Asia Pacific shall be the fastest growing region for dual-in-line memory module sockets due to increasing investments in R&D and increasing sales of smartphones, PCs and laptops. Further, increased expenses in defense in the developing economies of Asia Pacific region such as China & India is the major growth factor. Therefore, Asia Pacific will be the fastest growing region throughout the forecast period.
Some of the major companies profiled in the report include Enplas, Molex, Aries Electronics, 3M, WinWay, Chupond Precision, Loranger, Foxconn Technology, Mill-Max, Johnstech, Plastronics, Yamaichi Electronics, TE Connectivity and Sensata Technologies and others.
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