The silicon wafer market is experiencing a boom with the arrival of the Internet of Things (IoT). It has drastically transformed the comprehensive consumer electronics sector. The prominent technology pioneers are dependent on the connectivity concept so that the gap between consumer concerns and device capability can be reduced.
The key insights on the silicon wafer market have identified that the consumer electronics sector has experienced a steady decline for a few years. But novel products such as over the top (OTT), TV game consoles, set-top boxes, and UHD (4K) are boosting demand in the upcoming years. Furthermore, some other advanced technologies, for example, AI voice assistants – Google Home and Alexa– are fueling in the silicon wafer market.
The research report on the silicon wafer market has come out with market estimations. The silicon wafer market is anticipated to reach a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2017 to 2025. The total valuation of the silicon wafer market is projected to reach a worth of US$ 14.21 Million by 2025.
Increasing Demand for Modern Consumer Electronics Boosts Growth of Silicon Wafer Market
The products from the silicon wafer market have found several applications in a variety of devices. Further, there is a growing demand for tiny devices with increased and improved functionalities coming from a single piece of equipment. So, wireless computing gadgets, for example, smartphones and tablets, are witnessing tremendous developments. These advancements help in the improvement of designing tasks among semiconductor designers. The solutions provided by silicon wafer market are putting harmful impact on the environment. These environmental effects are coaxing the leading companies in the market to concentrate on recycling process for eco-friendliness and product improvement.
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Recent years have witnessed a shift towards novel consumer electronic devices, according to market analysis of the silicon wafer market. One of the key trends observed in the silicon wafer market includes increased customers interest toward purchase of new and innovative products. Some of the commonly preferred devices and technologies include wearables, VR, AR, and drones.
The research report on the silicon wafer market has identified that on the back of sturdy demand for automotive sectors and consumer electronics, the industry is enjoying tremendous growth currently. But high initial investments are somewhere curtailing the growth in the silicon wafer market. Furthermore, 300 mm silicon wafers are comparatively costly, so it is also creating obstacles in the market growth.
Some of the key players in the silicon wafer market include SK Siltron Co., Ltd., SUMCO Corporation, Siltronic AG, Silicon Materials Inc., Okmetic, Wafer Works Corporation, and Wafer World Inc.
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The 300 mm and Above Sized Wafers Segment Holds Prominent Share in Silicon Wafer Market
Market insights on silicon wafer market have studied various sized wafer such as 100mm, 150mm, 200mm, 300mm, and above this. The 300 mm sized silicon wafers segment contained prominent industry share in the silicon wafer market. This segment is expected to surpass other segments in the market. Further, the 200mm sized silicon wafer is also spreading its reach with increasing adoption in the industry, and it is estimated to play a pivotal role in growth in the silicon wafer market. This commonly finds application in the power optoelectronics equipment, microprocessors, image sensors, RFID, analog, and logic.
On the basis of device, the silicon wafer market is divided into RFID, CMOS, beach logic and memory, and MEMS. Among these classifications, the logic and memory segment outshines others in the silicon wafer market. This growth is on the back of its multiple applications of Internet of Things and the rising use of networking devices in different devices at the global level.
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