Strong Demand for Miniaturized Electronic Devices to Boost the Lithography Metrology Equipment Market | Technavio
The global lithography metrology equipment market size is poised to grow by USD 481.82 million during 2020-2024, progressing at a CAGR of about 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Lithography Metrology Equipment Market 2020-2024 (Graphic: Business Wire)
Increased demand for miniaturized electronic devices will be one of the primary lithography metrology equipment market drivers during the forecast period. The aspect that helped the most in this is the advent of miniaturized semiconductor components such as ICs. Market vendors are primarily focusing on developing miniaturized personal electronics that have a low power consumption rate. In recent times, the miniaturized electronic devices requirement has significantly increased. The lithography metrology equipment manufacturers are focusing on developing and delivering IC chips with superior performance and lesser power consumption. With these factors, the market is expected to grow significantly during the forecast period.
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Increase in Wafer Size will be a Key Market Trend
There has been a constant increase in the wafer size over the last four decades. The major reason for the shift to wafers with a larger diameter is to reduce the manufacturing cost by 20%-25%. This increase in the silicon diameter is expected to continue in the forthcoming years which would help in the growth of the global Lithography Metrology Equipment Market.
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Lithography Metrology Equipment Market 2020-2024: Key Highlights
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