The Global Silicon on Insulator Market is projected to grow at a CAGR of 17.91% till 2023
The recent study on the global silicon on insulator market covers in-depth analysis of the market on the basis of wafer size, technology, product, end-user industry, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2018-2023. According to the report titled “Global Silicon on Insulator Market – Forecast from 2018 to 2023”, the market is expected to increase from US$615.948 million in 2017 to US$1,655.533 million by 2023, at a CAGR of 17.91% during the projected period. The report has segmented the global silicon on insulator market by wafer size (less than 200mm, 200mm, 300mm), technology (smart cut, bonding, layer transfer), product (RF Fem, MEMS, power, optical communication, image sensing), end-user industry (consumer electronics, automotive, telecommunication, military and defense, others) and geography such as North America (United States, Canada, Mexico, others), South America (Brazil, Argentina, others), Europe (Germany, France, United Kingdom, Spain, others), Middle East and Africa (Saudi Arabia, Israel, others), and Asia Pacific (China, Japan, South Korea, India, others). The silicon on insulator (SOI) technology refers to the use of SOI substrate as against the conventional silicon in semiconductor manufacturing. The demand for SOI technology is increasing on account of its ability to allow continuous miniaturization of devices, while simultaneously reducing the power consumption as compared to the conventional techniques and is thus, considered ideal for mobile devices. The SOI technology is compatible with existing fabrication process while it is also capable of achieving higher current densities than obtained in equivalent bulk devices.
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The investment in IoT is projected to boost the demand for SOI technology.
The IoT device manufacturers are increasingly demanding the chipset that is capable of reducing power consumption without compromising the performance of the device. The low power device allows for the realization of maintenance free connected devices and thus, is being rapidly demanded in wearable devices, smart home applications, and portable appliances among others. Moreover, the number of connected devices is estimated to increase from 19.24 billion units in 2016 to 85.93 billion units in 2023, and as a result, the global silicon on insulator market is projected to grow rapidly during the forecast period.
Growing investment in the manufacturing sector is driving the Asia Pacific silicon on insulator market.
The Asia Pacific is estimated to hold a significant share in the market on account of the presence of the key players. Moreover, the increasing manufacturing of gaming devices that utilizes silicon on insulator technology is supplementing the growth of the market. Simultaneously, the growing investment in the production of connected devices is further projected to augment the growth of the market.
Some of the major players discussed in the reports are Soitec, Global Wafers Co., Ltd., Sumco Corporation, STMicroelectronics, and GlobalFoundries, among others.
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