The EMC Shielding and Test Equipment Market is currently undergoing a remarkable surge in growth, primarily driven by the escalating demand for and consumption of smart electronic devices across a multitude of industries, including consumer electronics, healthcare, automotive, and telecommunications. The proliferation of electronic devices underscores the critical importance of ensuring electromagnetic compatibility (EMC) in this technological landscape.
As the global landscape of electronic device usage continues to expand, the necessity for EMC shielding and test equipment has become paramount. These technologies serve as the safeguard against electromagnetic interference (EMI), facilitating the seamless operation of these devices.
Projections indicate that the global EMC shielding and test equipment market is poised to exceed a valuation of US$ 7,336.9 million by the year 2023, with further estimations foreseeing a substantial increase to US$ 11,440.5 million by 2033. This growth trajectory is expected to be sustained through a compounded annual growth rate (CAGR) of 4.5% from 2023 to 2033.
The escalating demand for smart electronic devices is the primary driver behind the robust growth of the EMC shielding and test equipment market. With these devices permeating various sectors, there is an increasingly urgent need to guarantee electromagnetic compatibility. This imperative arises from the necessity to prevent electromagnetic interference (EMI) and ensure the flawless operation of these electronic systems.
The contemporary landscape of electronic devices is characterized by their complexity, integration, and compact form factors. Consequently, these attributes elevate the risk of electromagnetic interference. During the entire lifecycle of electronic systems, spanning from design and development to manufacturing, EMC shielding and test equipment assume a pivotal role in the identification and mitigation of potential EMI issues. Their role in maintaining the integrity of electronic devices cannot be overstated.
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The automotive and aerospace industries have witnessed significant advancements owing to the increased electrification, connectivity, and automation in their respective domains. Ensuring the reliable performance of electronic systems under challenging conditions has become paramount, necessitating stringent adherence to Electromagnetic Compatibility (EMC) standards. This has, in turn, led to a growing demand for EMC shielding and testing equipment, driving market expansion.
In the energy and power sector, the operation of complex electronic machinery and control systems is fundamental to power generation, transmission, and distribution. To mitigate the risks posed by electromagnetic interference and uphold the stability and dependability of power systems, EMC shielding becomes imperative. Furthermore, the proper functioning of electronic components within power infrastructure hinges on rigorous EMC shielding and testing. With escalating global energy demands and the concurrent surge in industrialization, the EMC shielding market is poised for substantial growth in the forthcoming years.
The landscape of industrial settings is evolving, primarily due to the proliferation of industrial automation and the Industrial Internet of Things (IIoT). These evolving systems necessitate seamless coexistence and dependable operation, without the hindrance of electromagnetic interference (EMI). To achieve this, the deployment of EMC shielding and testing equipment is indispensable for ensuring the smooth operation of industrial automation and control systems. The ongoing trend of digitalization is expected to be a significant catalyst in driving progress within this market sector.
Key Takeaways from EMC Shielding and Test Equipment Market:
- The global EMC shielding and test equipment market size expanded at a CAGR of 3.9% from 2018 to 2022.
- In 2018, the global market size stood at US$ 5,827.8 million.
- The market size accounted for US$ 7,355.9 million in 2022.
- In 2022, the consumer electronics segment by vertical captured 32% shares in the global market.
- In 2022, India garnered 6.1% shares in the global market.
- In 2022, China captured 5.8% shares in the global market.
- Japan occupied 5.9% shares in the global market in 2022.
- In 2022, the United States captured 24.7% shares in the global market.
Recent Developments Observed by FMI:
- SGS announced in July 2021 the launch of new mobile equipment in locations around the United States. The new launch is for in-situ Electromagnetic Compatibility (EMC) and Electromagnetic Interference (EMI) testing services.
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Market Segmentation
By Type:
- EMC Shielding
- EMC Type
By Vertical:
- Consumer Electronics
- Telecom & IT
- Automotive, Healthcare
- Aerospace, Others
By Application:
- Consumer Appliances and Electronics
- Automotive
- Military and Aerospace
- IT and Telecommunication
- Medical
- Railways
- Renewable Energy
- Industrial
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
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