Chip alignment kit market registered significant growth in recent years, driven in part by technological advances, increased demand for consumer electronic goods and proliferation of Internet of Things IoT tools. Haixin Technology has attracted USD 20 million for Series A capital as of March 2018 so far this year for its chip package business.
This market serves many sectors including home electronics, automobile, medical care and telecom. Chip kits, which are a critical component when it comes to design and development of all forms of electrical circuits, have become a cornerstone of technological advancement.
Market Overview
The global market for chip-kit-market has seen an upward trajectory, due to the increasing adoption of electronic devices across various sectors and relatively stable prices thanks to rapid mass production processes which offer high production efficiency. In addition with smart devices, wearable technology and application of AI driven systems in all walks of life, demand has therefore risen for sophisticated, efficient chip kits.
These kits provide a flexible platform for engineers, hobbyists and researchers to quickly and cheaply prototype and develop new technologies. Chip kits such as this have therefore seen brisk sales on the rapidly growing Internet of Things market.
According to a recent report, the chip kit market is expected to grow at a CAGR of well over 20.00% in the next five years. This growth is driven by the need for miniaturization in electronic devices, the increasing complexity of systems and electromechanical techniques and recent general automation trends across industry as a whole.
Key Drivers and Challenges
The primary driver of the chip kit marketis rapid technological advances in the semiconductor industry. Development of ever more powerful, smaller, energy efficient chips has created a demand for advanced chip kits supporting these developments. Moreover, the growing emphasis on R & D activities in the electronics sector is giving the market impetus.
However, so it goes with all these achievements: the market has its problems, too. High costs of advanced chip kits and need for specialized knowledge to use these kits effectively can be barriers to entry for some users. Moreover, the market faces fierce competition from other technological platforms that have similar functionality or elder.
Market Segmentation
The chip kit market can be divided based on its application, end-user and geographical location. In what application, the market is home electronics, car, medical and other areas. Among them, home electronics receive the most products-by energy use. Extremes seen from cell phones to tablets are driving sales here.
From the viewpoint of the end-user, there are four categories regular hobbyist organisation, research institute and industry player. The industrial segment is forecast to display fastest development thanks to its increasing deployment of automation and Internet of Things technologies in manufacturing processes.
Geographically the world market for chip kits is divided into North America, Europe, AsiaPacific. Asia-Pacific is coming out on top by a significant margin thanks to major semiconductor manufacturers consolidating a lead but also significant local demand across the region's five countries (China, Japan and all three South Korea).
Future Outlook
The future of the chip kit market looks bright and there are many growth opportunities ahead. The continuing development of 5G technology, increasing application of IoTs will drive rising sales in 2015 for chip kits throughout this market; at the same time trends toward sustainable energy-efficient products is expected to open up new business prospects as well.
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