CHICAGO, Dec. 2, 2022 /PRNewswire/ -- The global SOI market size is estimated to be USD 1.4 billion in 2022 and is projected to reach 2.9 billion by 2027, at a CAGR of 15.0% during the forecast period according to a new report by MarketsandMarkets. The growing adoption of SOI wafer-based devices in automotive applications and rising demand for 5G in mobile communications play a key role in driving the growth of SOI market in near future.
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Browse in-depth TOC on "Silicon on Insulator (SOI) Market" 187 - Tables
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Rising demand for wafers with larger diameters to drive 300 mm segment
The introduction of 300 mm SOI wafers has changed the SOI landscape. 200 mm wafers are already used in smartphones, while the increased adoption of 300 mm SOI wafers is also being observed worldwide. The 300 mm segment is expected to hold a larger share of the SOI market and record a higher CAGR. Further, increasing investment of the companies for the production capacity for 300 mm SOI wafers has also bolstered the growth of the market.
Automotive segment projected to grow at the highest CAGR
The SOI market for automotive applications is projected to grow at the highest CAGR during the forecast period. Market growth is attributed to initiatives by leading players in the SOI ecosystem, such as Soitec, to deploy FD-SOI and power-SOI wafer-based chips in autonomous vehicles, infotainment systems, and advanced driver-assistance systems (ADAS). Leading automotive manufacturers have also shown interest in using SOI-based chips in multiple applications and automotive networking protocols.
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Europe accounted for the largest share of the SOI market
Europe held the largest share of the SOI market in 2021. The continuously growing semiconductor industry in Europe is one of the prime factors for the growth of SOI. As stated by the World Economic Forum (September 2022), Europe's digital revolution is linked to the revival of the semiconductor sector, post its downfall during the pandemic. The European Union aims to expand its share of the global semiconductor sector from 9% to 30% by 2030. Evolving policy in the European Union and the US is encouraging. Furthermore, Europe's strong academic infrastructure implies that it is ideally positioned to power its digital breakthroughs with home-grown microchips.
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 key players in the SOI market.
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