Asia Pacific Semiconductor Manufacturing Equipment Market to 2027
October 7, 2019 | Business WireEstimated reading time: 1 minute
The Asia Pacific semiconductor manufacturing equipment market accounted for $46.44 billion in 2018 and is expected to grow at a CAGR of 5.7% over the forecast period 2019-2027, to account for $79.04 billion in 2027.
The increasing adoption of smart electronic devices is boosting the manufacturing prospects, and significant incorporation of electronics in automotive applications is one of the key drivers that is propelling the growth of the semiconductor manufacturing equipment market.
Moreover, the integration of IoT, artificial intelligence, and connected devices across various end-use verticals is expected to boost the semiconductor manufacturing equipment market growth in the forecast period. However, the dynamic nature of technologies requires several changes in manufacturing equipment is anticipated to hinder the semiconductor manufacturing equipment market growth. Asia-Pacific has become a global manufacturing hub with the presence of diverse manufacturing industries.
Further, the governments of these countries are making developments to improve investment scenario. The governments are providing tax-rebates, funds, subsidies, and other such support to attract the manufacturing companies to set-up plants in their respective countries.
Further, several governments have taken initiatives such as Made in China 2025 and Make in India, among others to flourish the growth of manufacturing and other high-tech industries. The high growth in semiconductor manufacturing equipment market is driven by high demand for more semiconductor applications in automotive, industrial, consumer goods, and other electronic products including wireless, storage products.
The significant portion of revenue contribution in the fabrication of semiconductor products is played by memory chips and sensors used in various applications. The semiconductor manufacturing equipment market players are focusing on multiple initiatives to enhance their capabilities and boost its position in the market.
Suggested Items
iNEMI Names Grace O'Malley CTO
05/02/2024 | iNEMIThe Board of Directors of the International Electronics Manufacturing Initiative (iNEMI) has named Grace O'Malley Chief Technical Officer (CTO).
Intel Takes Next Step Toward Building Scalable Silicon-Based Quantum Processors
05/02/2024 | BUSINESS WIRENature published an Intel research paper, “Probing single electrons across 300-mm spin qubit wafers,” demonstrating state-of-the-art uniformity, fidelity and measurement statistics of spin qubits.
ZESTRON Academy Launches 2024 Advanced Packaging & Power Electronics Webinar Series
05/01/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, proudly announces the launch of its highly anticipated webinar series on Advanced Packaging & Power Electronics, a webinar series on the latest innovations, cleaning, and corrosion challenges.
NextFlex Convenes the Hybrid Electronics Community at Binghamton University
05/01/2024 | NextFlexBinghamton University hosted the NextFlex hybrid electronics community on April 18 for a day of expert presentations, breakout sessions on technology and manufacturing topics, and networking.
HQ NextPCB of HQ Electronics Debut on the International Stage for Electronics Manufacture at IPC APEX 2024
05/01/2024 | PRNewswireHQ NextPCB of HQ Electronics, a leading Chinese-based multilayer PCB manufacturer and assembly house showcased its industrial prowess on the international stage for the first time at the IPC APEX Expo 2024.