Pune, India -- (SBWire) -- 03/20/2019 --Global semiconductor manufacturing equipment market is majorly driven by exponentially growing needs of consumer electronic devices boosting the manufacturing prospects and Convergence of electronics and automotive industry driving the quest for semiconductor manufacturing. However, the rapidly changing nature of technology requiring consistent changes in manufacturing equipment.
The proliferation of Artificial Intelligence, IoT and connected devices across industry verticals and advanced packaging integrations in the manufacturing equipment are expected to provide substantial growth opportunity to the key players in this market. For instance, the government of US is looking ahead to improvise the entire manufacturing sector and therefore prepares strategies to boost the infrastructure industry. The federal government of the US plays a vital role in developing the semiconductor industry. Through funding in respect to conduct research and development for electronics and materials has efficiently supported to introduce innovations and modifications in semiconductors. In order to make such developments and refinements in semiconductor products, demand for semiconductor manufacturing equipment would observe an upsurge among the semiconductor manufacturers.
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The semiconductor product uses AI applications for which the European Union policies assist the businesses to optimize capabilities of AI. The AI depends upon semiconductor industry to create memory chips and other related components to store and process the data. Certainly, the semiconductors plays a vital role in part of data generation which further creates need to develop new chip design in order to store enormous data. This would further create the demand for semiconductor manufacturing equipment among the semiconductor industries.
A significant rise in the adoption of consumer electronic devices boosting the manufacturing prospects
The semiconductor manufacturing equipment market is experiencing a steady growth with regards to the research and development activities, product innovations, investments, and technological integrations, and deployment in the current scenario and is anticipated to rise exponentially in the coming years. The market for semiconductor manufacturing equipment comprises of some well-established players across the globe. The sales of semi-conductors are largely influenced by numerous economic and non-economic factors.
The global market for semiconductor manufacturing equipment market is segmented on various parameters such as equipment type, dimension, end use, and geography. Based on equipment type, wafer manufacturing equipment segment dominate the semiconductor manufacturing equipment market heavily and is expected to continue its dominance throughout the forecast period from 2019 - 2027. On the basis of dimensions, 2.5D segment is expected to witness a significant growth rate in the coming years. The semiconductor manufacturing equipment market operates in an extremely fragmented industry with huge number of smaller players capturing the market.
The automobile and industrial sectors are expected to have a large impact on the growth of the semiconductor market. Also for the consumer electronics industry, shorter lifecycles of the products aid the needs from semiconductor manufacturing equipment for high volume production abilities with growing consumer demands. Potentially, the automotive and industrial sectors present larger opportunities as compared to other sectors due to the volumetric implementations of semiconductors and subsequently drive the demands for semiconductor manufacturing equipment.
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Key players operating in the market are introducing attractive services and solution which is helping the companies to gain customer traction. The major companies offering semiconductor manufacturing equipment to different industries include Advantest Corporation, Applied Materials, Inc., ASML Holding N.V., Hitachi High-Technologies Corporation, KLA Corporation, Lam Research Corporation, Rudolph Technologies, Inc., Screen Holdings Co., Ltd., Teradyne Inc., and Tokyo Electron Ltd. among others. Several other companies are also offering these services to different industries which is facilitating the semiconductor manufacturing equipment market to propel over the years.
Semiconductor Manufacturing Equipment Market to Reach $ 101.58 Bn by 2027
The global semiconductor manufacturing equipment market is expected to grow at a CAGR of 5.2% during the forecast period 2019 - 2027, to account to US$ 101.58 Bn by 2027.