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Semiconductor Wafer Market Key Trends And Forecast Report 2024-2033
Semiconductor Wafer Market Key Trends
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According to The Business Research Company's, The semiconductor wafer market size has grown strongly in recent years. It will grow from $15.79 billion in 2023 to $16.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to growth of the consumer electronics market, increase in data centers and cloud computing. expansion of the automotive industry, growth of the internet of things (iot), and rise of personal computing.
The semiconductor market size is expected to see strong growth in the next few years. It will grow to $21.35 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to transition to 5g technology, artificial intelligence (ai) and machine learning (ml), growth in electric and autonomous vehicles, expansion of advanced packaging technologies, and emergence of quantum computing. Major trends in the forecast period include increasing adoption of wide bandgap (wbg) materials, rapid growth in edge computing, shift towards more complex chip designs, increasing demand for advanced packaging solutions, and focus on environmental sustainability.
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Market Drivers and Trends:
The increasing demand for consumer electronics is expected to propel the growth of the semiconductor wafer market going forward. Consumer electronics refer to electronic devices intended for everyday use by individuals. Consumer electronics constantly evolve with new and improved technologies, features, and functionalities, often providing convenience and improving productivity in various aspects of life. The semiconductor wafer is used in consumer electronics as the foundational substrate on which integrated circuits and microchips are fabricated, enabling the functionality of devices such as smartphones, computers, and televisions. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total electronic equipment production in Japan reached 771,457 units. In addition, consumer electronics production reached 32,099 units in May 2023, compared to 25,268 units in May 2022. Therefore, the increasing demand for consumer electronics is driving the growth of the semiconductor wafer market.
Major companies operating in the semiconductor wafer market are developing silicon wafers to meet the increasing demand for advanced electronic devices in various industries. Silicon wafers serve as the substrate for fabricating integrated circuits (ICs) and semiconductor devices. For instance, in April 2024, LONGi, a China-based photovoltaics company, launched TaiRay silicon wafer products. The TaiRay silicon wafers are designed to support multiple cell technologies and are available in various sizes and thicknesses to meet different market needs. TaiRay wafers also have enhanced mechanical properties, with a 16% higher bending strength than conventional wafers. This increased bending strength helps reduce the breakage rate during production, mainly when producing thinner wafers.
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Major Key Players of the Market:
Samsung Electronics, Intel Corporation, Qualcomm Incorporated, ASML Holding, LONGi Green Energy Technology Co. Ltd., Shin-Etsu Chemical Co. Ltd., Tokyo Electron Limited, STMicroelectronics N.V., KLA Corporation, Microchip Technology Inc., SUMCO Corporation, Globalwafers, Siltronic AG, Soitec, Fujimi Incorporated, Wafer Works Corporation, Ferrotec Holdings Corporation, Okmetic Inc., Episil-Precision Inc., Alfa Chemistry, Shanghai Simgui Technology Co. Ltd., SK Siltron Co. Ltd., Wafer World Inc., WaferPro, Virginia Semiconductor
Semiconductor Wafer Market 2024 Key Insights:
• The semiconductor market size is expected to see strong growth in the next few years. It will grow to $21.35 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• Rising Consumer Electronics Demand Fuels Growth Of Semiconductor Wafer Market
• Advancements in Silicon Wafer Development to Meet Growing Industry Demands
• Asia-Pacific was the largest region in the semiconductor wafer market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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