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Semiconductor Silicon Wafer Market Size to Grow by $4.14 Billion between 2020 and 2025
July 7, 2022 | PRNewswireEstimated reading time: 1 minute
The "Semiconductor Silicon Wafer Market by Application and Geography - Forecast and Analysis 2021-2025" report by Technavio expects the market size to increase by USD 4.14 billion between 2020 and 2025. The market observed a YOY growth of 6.23% in 2021 and the growth momentum is expected to accelerate at a CAGR of 6.73% during the forecast period. APAC will register the highest incremental growth. The region will account for 78% of the global market share. The report provides a comprehensive analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies.
Market Dynamics
The emergence of advanced and compact consumer electronic devices is the key factor driving the growth of the market. The high adoption of smartphones across the world has increased the demand for compact electronic devices. Also, the rising consumer demand for smart devices has increased the consumption of ICs in the electronic industry. This has subsequently increased the demand for silicon wafers. Thus, with electronic device manufacturers introducing new-age electronic gadgets with smart features, including touch displays, keypads, in-built memory-based appliances, and others, the market growth is expected to accelerate during the forecast period.
In addition, the rise in the number of fabs will have a positive impact on the growth of the market. But the high inventory levels in the supply chain will reduce the growth potential in the market.
Competitive Analysis
The semiconductor silicon wafer market report provides complete insights on key vendors including Addison Engineering Inc., GlobalWafers Co. Ltd., Lanco Infratech Ltd., Okmetic Oy, Shin-Etsu Chemical Co. Ltd., Siltronic AG, SK Siltron Co. Ltd., SUMCO Corp., Virginia Semiconductor Inc., and Wafer World Inc. The report includes the competitive analysis which analyzes and evaluates the position of companies based on their industry position score and market performance score. Some of the factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
The global silicon wafers market is concentrated and highly competitive. Rapid advances in technology, intense competition, and the changing dynamics of the market are intensifying the competition among vendors. With the increasing competition, the market is expected to see consolidation in the forecast period.
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