Global Semiconductor Silicon Wafer Market 2020-2024 | Emergence of Compact Consumer Electronic Devices to Boost Market Growth | Technavio
The global semiconductor silicon wafer market is expected to grow by USD 12.22 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters - with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Semiconductor Silicon Wafer Market 2020-2024 (Graphic: Business Wire)
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Consumer electronic devices have witnessed a massive transformation in the last five years. Smartphones have replaced feature phones, laptops have replaced PCs, and now tablets are replacing laptops. LED TVs and OLED TVs are replacing CRT TVs. Application developers and manufacturers are trying to incorporate further transformation by interconnecting household devices via a single unit called smart home, which is controlled by applications installed on smartphones. With fast innovation and the rising demand for advanced electronics, manufacturers are focusing on delivering better consumer products with enhanced functionalities. Such advancements force manufacturers to upgrade their offerings in terms of design, processing power, power consumption, and user-interface to establish a higher market share. The demand for compact electronic devices in almost all sectors has forced semiconductor IC manufacturers to decrease the size and increase the performance of ICs, leading to the increased demand for silicon wafers.
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As per Technavio, the rise in the number of fabs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Semiconductor Silicon Wafer Market: Rise in the Number of Fabs
The growing need for semiconductor devices from end-user device manufacturers such as consumer electronics, sensor systems, medical devices, and IoT-connected devices has propelled the growth of the semiconductor industry substantially. In addition, large-scale investments are being made to make driverless cars a reality. All such developments require semiconductor silicon wafers, and to meet this considerably high demand, semiconductor manufacturers are increasing the throughput of their production facilities or are constructing new fabs altogether. The majority of the new fab investments will be toward the development of memory and logic ICs due to their high demand patterns. Thus, the number of fabs is expected to increase, which will drive the growth of the semiconductor silicon wafer market during the forecast period.
"Factors such as the advent of Internet of Things leading to the explosive growth of wireless computing devices, along with the growing demand for silicon wafers from the automotive industry will have a significant impact on the growth of the semiconductor silicon wafer market value during the forecast period," says a senior analyst at Technavio.
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Semiconductor Silicon Wafer Market: Segmentation Analysis
This market research report segments the semiconductor silicon wafer market by application (consumer electronics, telecommunication, automotive, and others) and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the semiconductor silicon wafer market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the growing demand for mobile devices, and the presence of leading OEMs such as Samsung (News - Alert), Sony, LG, Toshiba, Panasonic, Toyota, and Honda.
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Some of the key topics covered in the report include:
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