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Global Membrane Switch Market to Grow at a CAGR of 12.3% During 2021-2026, Aided by the Rising Demand for Innovative Devices

According to a new report by EMR titled, ‘Global Membrane Switch Market Report and Forecast 2021-2026’, the market attained a value of about USD 7.3 billion in 2020. The industry is further expected to grow at a CAGR of 12.3% in the forecast period of 2021-2026 to reach a value of approximately USD 14.6 billion by 2026.

The Asia Pacific region holds a significant share of the overall market owing to rapid industrialisation. The rising disposable income in the region is increasing the demand for innovative technologies and equipment, which is bolstering the industry growth. Moreover, the robustly growing consumer electronics industry in countries such as India, China, and South Korea is surging the deployment of membrane switches, hence augmenting the industry growth. As various countries in the region are some of the leading manufacturing hubs, the demand for membrane switches in end-uses is significantly increasing. This is propelling the industry growth. In addition, the thriving healthcare industry in the region is escalating the demand for advanced medical devices. This is increasing the use of membrane switches, which is expected to invigorate the market growth.

Molex (NASDAQ: MOLX), one of the leading companies in the market, offers durable, lightweight, and low-profile membrane switches for integrating user interfaces and electronic components into various applications, such as medical, commercial, and industrial products. The company offers switches with micro-motion assemblies and one or more layers of silver or carbon conductors printed on polyester substrate layers. It also incorporates several electronic components, such as light emitting diodes, photo diodes resistors, and capacitors that are integrated into the switch using conductive adhesive technology. The membrane switch is resistant to shock and vibration, due to which they are ideal for commercial applications. Such properties make it ideal for use in several industries, such as defence, medical, telecommunication, and consumer electronics, among others. The development of such products is augmenting the market growth.

Market Analysis by Product, Application, and Region:

  • The market, on the basis of product, can be divided into polyester and polycarbonate, among others.
  • Based on application, the industry can be divided into industrial, medical, and consumer electronics, among others.
  • The regional markets for membrane switch include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising use of membrane switches in the agricultural industry to enhance yield and reduce manual labour activities is propelling the market growth.
  • The market is being driven by the rising use of membrane switches in the animal husbandry industry to increase the durability of machines.
  • The increasing deployment of membrane switches in medical instruments by original equipment manufacturers to surge their functionality is propelling the market growth.
  • The development of cost-effective and multifunctional varieties to enhance the usefulness is surging the use of membrane switches, hence bolstering the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for membrane switch for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the products, applications, and regions of membrane switch.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global membrane switch market are Molex, Xymox Technologies, Inc., Douglas Corporation, Dyna-Graphics Corporation, GOT Interface LLC, Epec, LLC, and Butler Technologies, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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