Northbrook, IL 60062 -- (SBWIRE) -- 07/26/2023 -- The Silicon on Insulator Market share is projected to reach USD 2.9 billion by 2027 from an estimated USD 1.4 billion in 2022, at a CAGR of 15.0% from 2022 to 2027.
Surging adoption of FD-SOI in IoT devices and ML applications and establishment of facilities to enhance SOI production are among the factors driving the growth of the SOI market.
Key Market Players in Silicon on Insulator Market
Soitec (France), Shin-Etsu Chemical (Japan), GlobalWafers (Taiwan), SUMCO Corporation (Japan), Shanghai Simgui Technology (China), GlobalFoundries (US), STMicroelectronics (Switzerland), Tower Semiconductor (Israel), NXP Semiconductors (Netherlands), Murata Manufacturing (Japan), are some of the silicon on insulator companies.
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By wafer type, Silicon on Insulator Market for FD-SOI to grow with the highest CAGR in the forecast period
The FD-SOI wafers segment is anticipated to record the highest CAGR during the forecast period. Market growth is driven by their advantages—high flexibility, easy implementation, low cost, less complexity, reduced leakage currents, and their ability to optimize power/performance tradeoffs. Several FD-SOI wafer manufacturers are focusing on product launches and collaborations with other players in the silicon on insulator industry to strengthen their product portfolio and cater to the increasing demand for FD-SOI wafers. For instance, in August 2022, Google is expanding its open-source chip development effort with Skywater Technology, a US foundry, to a 90 nm FD-SOI technology.
Silicon on Insulator Market for MEMS devices is expected to record the highest CAGR in the forecast period
The MEMS devices segment is expected to record the highest CAGR during the forecast period. The growth of the MEMS devices segment is attributed to the rising use of SOI wafers in MEMS devices for consumer electronics, automotive, and industrial applications. Additionally, the presence of many ecosystem players providing SOI wafer-based MEMS and their continuous development have bolstered market growth.
Silicon on Insulator Market for Consumer electronics accounted for the largest size of the SOI market in 2021
SOI-based wafers are used in consumer electronics such as smartphones, tablets, wearables, laptops, cable modems, televisions, and set-top boxes to reduce their size, lower their power consumption, increase their operational speed, and extend their battery life, among others. These wafers also offer enhanced performance and are less dependent on device temperature. SOI-based microprocessors also require lesser space than conventional embedded memory. As a result, the demand for SOI in consumer electronics is increasing rapidly. In 2021, the consumer electronics segment accounted for the largest share of the SOI market.
By 2027, Silicon on Insulator Market in Asia Pacific is projected to grow with the fastest CAGR in the forecast period
The Silicon on Insulator market in APAC is expected to record the highest CAGR during the forecast period. Market growth is attributed to the rising demand for consumer electronics such as smartphones, tablets, laptops, and smart wearables. Moreover, government investments and expansions of several semiconductor foundry players and wafer manufacturers contribute to market growth.