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Semiconductor And Circuit Manufacturing Market To Reach $4.7 Billion By 2027: Meticulous Research

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  • The extrinsic semiconductor accounted for the largest share of the overall semiconductor and circuit manufacturing market in 2019
  • The silicon carbide material segment is expected to witness rapid growth during the forecast period
Image for representation (pic credit-ceth ksu)

The semiconductor and circuit manufacturing market is expected to grow at a compounded annual growth rate (CAGR) of 16.9 per cent from 2020 to 2027 to reach $4.7 billion by 2027 as per a report by Meticulous Research. The report titled, “Semiconductor and Circuit Manufacturing Market by Component, Semiconductor, Application)– Global Forecast to 2027” also said that the optical devices segment is expected to witness rapid growth during the forecast period.

Improvement in technologies like AI, IoT, big data analytics, drone & robotics, cloud computing and 5G and spending on research and development activities are some of the reasons driving the growth of the semiconductor and circuit manufacturing (SCM) market. other factors include decreasing prices of semiconductors and high competition among players operating in this industry. The report also said that increasing strategic collaborations among semiconductor vendors and electronic devices manufacturers to strengthen the product portfolio can encourage the growth of the semiconductor and circuit manufacturing market during the forecast period.

COVID-19 pandemic to create setback

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The report also added that the construction of handy design with thin-film coating and growing need to maintain easy integration of semiconductor chips with rapidly changing functionality will create challenges. The impact of COVID-19 pandemic worldwide will also be a setback.

Due to COVID-19, the companies operating in semiconductor and electronics industry are being challenged to consider transforming its global supply chain model. Some of the segments in this industry are at high risk like consumer electronics and automotive. Segments like cloud-computing data centers, communication & connectivity technology, and healthcare remain healthy.

The report added, “According to a recent survey conducted by Electronics Components Industry Association (ECIA), there is a large shift towards ‘no impact’ and ‘minimal impact’ in all component segments and expects no disruption in the supply chain. Also, the slowdown in end-market demand is lowering pressure on the electronics components supply chain.”

Optical devices segment to show rapid growth

The report said that based on components, the memory device segment accounted for the largest share of the overall semiconductor and circuit manufacturing market in 2019. This is mainly due to the increasing consumption of electronic devices; developments in the innovative technology including AI, big data analytics, and cloud computing, increasing number of mobile phones; and rising adoption of memory devices in data centres.

Optical devices will see rapid growth during the forecast period due to increasing usage of optoelectronics chips in Complementary Metal-Oxide Semiconductor (CMOS) image sensors for applications like embedded cameras, LED lighting solutions, and automotive safety. Other factors include growing technological advancements and rapidly transforming market for residential, commercial, and industrial applications as per the report.

Extrinsic semiconductor takes the largest share

As per the report, based on type, the extrinsic semiconductor accounted for the largest share of the overall semiconductor and circuit manufacturing market in 2019. This is due to growing adoption of extrinsic semiconductors in electronic components including integrated chips, diodes, and transistors. Other factors for this are easy integration with many devices like LED, photodetectors, and solar cells and numerous benefits as compared to other semiconductor types. The report also said that rising usage of this semiconductor in power electronic devices is also promoting the fastest growth of the extrinsic semiconductor market.

Based on material type, the silicon material segment accounted for the largest share of the overall semiconductor and circuit manufacturing market in 2019. Reasons for this include increasing implementation of silicon material in various electronic devices, its wide range of applications in industries like communication, aerospace, and electronics, among others and increasing strategic collaborations among technology-based companies.

The silicon carbide material segment is expected to witness rapid growth during the forecast period. It will be due to increasing usage of power electronic devices, increasing implementation for EV motors, and growing demand for SiC-based photovoltaic cells, specially in developing countries.

Asia Pacific region leads

The report said Asia Pacific region captured largest share of the global semiconductor and circuit manufacturing market in 2019. Several factors like presence of major players, emerging startups, easy availability of semiconductor equipment, and high consumption of semiconductor devices contributed to this. The rapid proliferation of mobile devices, growing technological advancements with high adoption of modern technologies, and presence of the world’s largest purchaser and importer of chips like China are responsible for the fastest growth of Asia Pacific region.

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