The semiconductor capital equipment market is expected to grow by USD 15.51 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Semiconductor Capital Equipment Market 2020-2024 (Graphic: Business Wire)
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The emergence of various technologies such as IoT and AI has significantly increased the demand for semiconductor components. This is compelling semiconductor manufacturers to either expand their production capacities or build new fabs to cater to the growing demand. For instance, in 2017, SAMSUNG announced plans to invest about USD 14.7 billion in a new fab facility in Pyeongtaek, South Korea. Similarly, Intel has announced its plans to complete its Fab42, located in Arizona by 2021. The rising number of semiconductor fabs is resulting in the increased overall semiconductor production capacity, which is creating a significant demand for semiconductor capital equipment.
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As per Technavio, the surge in global demand for consumer electronics and smart electronic devices will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Semiconductor Capital Equipment Market: Surge in Global Demand for Consumer Electronics and Smart Electronic Devices
Globally, the adoption of smart devices such as smartphones, smartwatches, and tablets has increased over the years. These devices are backed with features such as Wi-Fi connectivity, multimedia streaming, touchscreens, and internet connectivity that run on high-tech circuits and densely packed semiconductor components. The rising adoption of these devices is resulting in the increased production of semiconductor components, which, in turn, is driving the growth of the market.
“Miniaturization of electronic devices and the rapid transition of node sizes of semiconductors will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Semiconductor Capital Equipment Market: Segmentation Analysis
This market research report segments the semiconductor capital equipment market by Type (wafer-level manufacturing equipment, packaging and assembly equipment, and automated test equipment) and Geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the semiconductor capital equipment market in 2020, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the growth of Chinese smartphone manufacturers.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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