Report Predicts Vacuum Coating Equipment Market to Surpass $47 Billion by 2024
OCEAN VIEW, DE - According to a new research report by Global Market Insights Inc., the vacuum coating equipment market will reach $47 billion by 2024.
The industry has recorded substantial growth in past few years with varied applications in the electronics, power generation and automotive sectors. It is commonly used in the electronics industry for integrated circuits, photovoltaic devices and microelectronics. The global consumer electronics market is expected to record a compound annual growth rate (CAGR) of 4% to 2024.Industrial automation and manufacturing of high-end vehicles have increased adoption of integrated circuits in these fields. The escalating electrical and electronics industries will help to boost vacuum coating equipment market demand.