Focused ion beam technology is rapidly adopted in almost every semiconductor and materials science sectors. In addition, their reduced cost, compact size, and quick response are estimated to fuel the market growth in both nonindustrial and industrial sectors globally.
Portland, OR -- (SBWIRE) -- 06/09/2017 -- Focused Ion Beam Market Report, published by Allied Market Research, forecasts that the global focused ion beam (FIB) market is expected to reach $4.9 billion by 2022, growing at a CAGR of 7.4% from 2016 to 2022. In 2015, North America dominated the market and contributed more than 39% of the overall market revenue, followed by Asia-Pacific. Presence of key market players in the U.S. and Asia-Pacific, rapid industrialization, primarily in manufacturing sectors, increase in demand for FIB-based failure analysis equipment in electronics industry, and circuit editing applications using FIB have fueled the growth of FIB market. However, high cost of FIB equipment is the major restraint of the market.
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Gallium ion source segment dominated the market, accounting for about 40% of the overall market share in 2014. Owing to its nontoxic nature, gallium is widely accepted as a major ion source for FIB. However, others segment is expected to register a CAGR of 8.0%, and is projected to demonstrate significant growth during the forecast period. This is attributed to increased R&D of new ion types, such as lithium, to enable cost-effective and efficient operations of FIB, without compromising the quality.
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Although North America contributed towards the maximum revenue share in 2014, Asia-Pacific is expected to show highest CAGR during the forecast period. This is attributed to various factors, including increase in demand for electronic products and numerous government initiatives. Moreover, development in focused ion beam (FIB) technologies has fueled the market growth in Asian countries, particularly in China, Japan, and India.
Asia-Pacific is projected to show highest growth rate throughout the analysis period. China has the biggest market for FIB manufacturers and consumers. Moreover, surge in manufacturing industry activities and increased expenditures in the emerging markets, such as Japan and India, to cater to the exponential growth for consumer electronics have strengthened the market growth. Technological advancements for cost-effective FIB in these nations offer lucrative opportunity for the market.
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Key Findings of the Focused Ion Beam Market:
The circuit edit application led the overall FIB market revenue in 2014, and is projected to grow at a CAGR of 7.0% during the forecast period.
Nanofabrication application segment is expected to exhibit rapid growth during the forecast period.
In 2015, North America led the global market, but Asia-Pacific is expected to show the highest CAGR.
In 2015, China led the overall Asia-Pacific market with about one-third of the market share.
Key players in the FIB market adopted acquisition and product launch as their prominent strategies to expand their business operations in the emerging countries. The major players profiled in this report include Hitachi High-Technologies Corporation, Evans Analytical Group, Fibics Incorporated, FEI, Carl Zeiss AG, ZEROK Nanotech, Thermo Fisher Scientific Inc., NanoLab, Tescan, and Waters.