CHICAGO, Jan. 16, 2024 /PRNewswire/ -- The SiC-On-Insulator and Other Substrates Market is expected to reach USD 149 million by 2029 from USD 99 million in 2024, at a CAGR of 8.5% during the 2024-2029 period according to a new report by MarketsandMarkets. The major factors driving the market growth of the SiC-on-insulator and other substrates market include the growing demand for 5G technology and the increasing popularity of electric vehicles. Additionally, the surging attention towards the implementation of SiC-on-insulator substrates in the photonics industry is expected to create growth opportunities for the SiC-on-insulator and other substrates market.
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Browse in-depth TOC on "SiC-On-Insulator and Other Substrates Market"
65 - Tables
35 - Figures
138 - Pages
SiC-On-Insulator and Other Substrates Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 99 Million |
Estimated Value by 2029 | $ 149 Million |
Growth Rate | Poised to grow at a CAGR of 8.5% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Substrate Type, Wafer Size, Application and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Process complexities related to SiC-on-insulator and other substrates |
Key Market Opportunities | The escalating need for SiC-on-substrates based photovoltaic systems |
Key Market Drivers | Surging demand for power devices and thermal management solutions |
Conductive SiC Substrates are expected to account for the highest CAGR of the SiC-on-insulator and other substrates market during the forecast period.
Integrated conductive SiC substrates in power devices have the capability to withstand high temperatures positioning them as robust solutions for applications where traditional silicon counterparts may face limitations. Due to their versatile nature, it is used in a wide range of technological advancements, which makes them indispensable in the evolution of electronic devices and systems. Therefore, the growing demand for power devices is expected to drive the market for conductive SiC substrates, expected to account for the highest CAGR during the forecast period.
Power devices are projected to register the highest CAGR in SiC-on-insulator and other substrates market during the forecast period.
SiC-on-insulator-based power electronics have the capacity to tolerate harsh environmental conditions due to their high-temperature tolerance, radiation hardness, and chemical inertness. Therefore, such factors make them suitable for applications in demanding environments that utilize power devices. As a result, power devices are projected to register the highest CAGR in the SiC-on-insulator and other substrates market during the forecast period.
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Europe is expected to register the second highest CAGR during the forecast period.
The SiC-on-insulator and other substrates industry in Europe is expected to have substantial growth in the upcoming years, as there is a rising demand for advanced healthcare solutions such as biomedical sensors. Additionally, Europe is home to several major semiconductor manufacturers such as STMicroelectronics (Switzerland), and Infineon AG (Germany), among others. These European semiconductor manufacturers actively participate in the key developments of SiC-on-insulator and other substrates market, contributing towards the regional market growth of SiC-on-insulator and other substrates.
Key Players
The report profiles key players in SiC-on-insulator and other substrates companies such as Wolfspeed, Inc. (US), SICC Co., Ltd. (China), SOITEC (France), Coherent Corp. (US), GlobalWafers Co., Ltd. (Taiwan), Ceramicforum Co., Ltd. (Tokyo), Xiamen Powerway Advanced Material Co., Ltd. (China), Homray Material Technology (China), Shanghai Zhongyingrong innovative Material Technology Co., Ltd (China), Precision Micro-optics Inc. (US), Tankeblue Semiconductor Co., Ltd. (China), and Hebei Synlight Crystal Co., Ltd. (China).
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