CHICAGO, April 24, 2024 /PRNewswire/ -- The SiC-on-insulator (SiCOI) film market is projected to reach USD 1,134 million by 2029 from USD 37 million in 2024, at a CAGR of 98.1% from 2024 to 2029 according to a new report by MarketsandMarkets. Increasing demand for high-power electronics across various industries, the growing emphasis on energy efficiency and sustainability, and expanding telecommunication and data communication networks are some major factors driving the growth of the SiC-on-Insulator (SiCOI) film market. Moreover, Industry collaborations, involving SiCCOI film manufacturers, and power device manufacturers, fuel market expansion, driving innovation and advancing the overall immersive technology ecosystem.
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SiC-on-Insulator (SiCOI) Film Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 37 million |
Estimated Value by 2029 | $ 1,134 million |
Growth Rate | Poised to grow at a CAGR of 98.1% |
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 Material, Wafer Size, Technology Route and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Lack of advancements in manufacturing processes and quality control measures |
Key Market Opportunities | Advancements in power electronics |
Key Market Drivers | Increasing demand for high-power electronics due to growing adoption of EVs |
Smart Cut technology to dominate the SiC-on-Insulator (SiCOI) film market from 2024 to 2029.
SOITEC Smart Cut technology represents a significant breakthrough in substrate engineering, providing unprecedented control over the thickness and composition of each wafer layer to meet specific technological demands. Beyond its technical merits, the scalability and industrial applicability of the Smart Cut technology distinguish it, with the technology currently in use at several manufacturing sites for high-volume production. Its compatibility with standard semiconductor-processing tools and adaptability to different wafer sizes offer manufacturers considerable flexibility in device fabrication, and SOITEC has started leveraging this technology to produce SmartSiC substrates, targeting the booming demand for SiC in electric vehicles as a key component in the EU's decarbonization strategy, as SiC enhances EVs by increasing power density and reducing size, weight, and cost.
150 mm films to register highest CAGR in the SiC-on-Insulator (SiCOI) film market during forecast period.
150 mm (6-inch) SiCOI film segment is experiencing rapid growth, driven by the increasing adoption of SiC in power electronics and other applications. SOITEC, a global leader in engineered substrates, is a key player in the 150 mm SiC-on-Insulator (SiCOI) film market, offering advanced solutions for power electronics in EVs, renewable energy systems, and industrial applications. Moreover, as a leading manufacturer, SOITEC employs its proprietary Smart Cut process to create these 150 mm SiCOI films, catering to the surging demand. With such innovative manufacturing techniques, the SiC-on-Insulator (SiCOI) film market is expected to grow considerably, with investments ramping up in production and supply chain capabilities to fulfill the increasing industry needs.
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Europe accounted for the second largest share of the market in 2023.
The SiC-on-Insulator (SiCOI) film industry in Europe is poised for substantial growth, driven by the continent's dedication to sustainability, advancements in renewable energy, and the automotive sector's shift toward electrification. Supporting this trajectory are initiatives from European governments and the wide-reaching influence which have launched programs and policies aimed at nurturing the development of bandgap semiconductor technologies, including those based on Silicon Carbide (SiC). A key example of this support is the Important Projects of Common European Interest (IPCEI) initiative, which has channeled significant resources into bolstering the SiC ecosystem across Europe. This initiative underscores Europe's commitment to leading in the semiconductor technology space, specifically in areas critical to the continent's green and digital transitions.
Key Players
Collaborations between SiC-on-Insulator (SiCOI) film companies players, and power device manufacturers, along with the presence of major global company like SOITEC (France) contribute to the region's leadership in the global SiC-on-Insulator (SiCOI) film market.
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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