Increase in use of Sol wafers in consumer electronics and rise in investment by wafer manufacturers and foundry players in developing countries have boosted the growth of the global silicon on insulator market. The market across Asia-Pacific contributed the largest share in 2019, holding nearly three-fifths of the market. The Covid-19 pandemic affected the manufacturing industry as most of the electronic components are imported from China.
Portland, OR, Jan. 14, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global silicon on insulator market generated $1.11 billion in 2019, and is expected to reach $3.18 billion by 2027, registering a CAGR of 14.1% from 2020 to 2027.
Increase in use of Sol wafers in consumer electronics, its use to improve operational performance with low operating voltage, and rise in investment by wafer manufacturers and foundry players in developing countries have boosted the growth of the global silicon on insulator market. However, self-healing effects in Sol-based hinder the market growth. On the contrary, increase in use of Sol technology in IoT devices and apps coupled with implementation of automation solution across the retail industry would open new opportunities for the market players in the future.
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The sudden outbreak of coronavirus forced companies to take short-term decisions that might affect them in the long-term. In addition, the prolonged lockdown negatively impacted the supply chain, the supply of raw materials, and packaging & transport of equipment.
The Covid-19 pandemic affected the manufacturing industry as most of the electronic components are imported from China. The lockdown across China increased the prices of semiconductor components.
The global silicon on insulator market is divided on the basis of technology, wafer size, product, application, and region. Based on technology, the market is segmented into BESOI, SiMOX, Smart Cut, ELTRAN, and SoS. The smart cut segment dominated the market in 2019, contributing to more than one-third of the total revenue. Moreover, the segment is expected to manifest the highest CAGR of 15.4% from 2020 to 2027.
Based on product, the market is categorized into RF FEM, MEMS, power, optical communication, and image sensing. The RF FEM segment is projected to portray the highest CAGR of 16.1% during the forecast period. In addition, the segment held the lion’s share in 2019, accounting for more than one-fourth of the market.
The global silicon on insulator market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific contributed the largest share in 2019, holding nearly three-fifths of the market. Moreover, the region is anticipated to manifest the highest CAGR of 14.8% from 2020 to 2027.
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The global silicon on insulator market report includes an in-depth analysis of the prime market players including GlobalWafers, NXP Semiconductors, SUMCO CORPORATION, Shin-Etsu Chemical Co. Ltd., MagnaChip Semiconductor Corp, STMicroelectronics, Soitec SA, Simgui, Tower Semiconductor Ltd. (ToweJazz), and Murata Manufacturing Co. Ltd.
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