The overall dual-in-line memory module Sockets market worldwide is set to grow with a CAGR of 15.0% during the forecast period.
Market Insights
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.
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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.
Consumer Electronics Dominates the Market
The consumer electronics segment leads the dual-in-line memory module sockets market by application type. With an increase in popularity of enterprise technologies like big data and cloud based services, the dependency on servers and expanded memories have increased. Backed by demand from latest processors platforms for high performance and better system scaling the dual-in-line memory module sockets market has grown significantly. The consumer electronics segment shall continue to lead the market throughout the forecast period owing to rise in sales of consumer electronics products such as laptops, PCs, smartphones, smart devices, etc. Hence, the consumer electronics segment is set to dominate the dual-in-line memory module sockets market.
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Asia Pacific to be the Fastest Growing Region
North America led the dual-in-line memory module sockets market. On account of growing demand for consumer electronics, defense equipment and automotive in the developed region. On the other hand, Asia Pacific shall be the fastest growing region throughout the forecast period. Due to immense growth in automotive and consumer electronics, the sale of dual-in-line memory module sockets shall increase. Further, booming healthcare industry in the region and growth of medical tourism in countries like India have contributed significantly to the dual-in-line memory module sockets market. Due to the aforementioned factors, Asia Pacific will be the fastest growing segment 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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