Albany, NY -- (SBWIRE) -- 01/17/2018 -- According to a new research report by Transparency Market Research (TMR), the global market for ion beam is highly consolidated. The top four companies, namely, Hitachi High-Technologies Corp., Veeco Instruments, Canon Anelva Corp., and Scia Systems, held nearly 56% of the overall market in 2016. The competition within this market is intensifying progressively, owing to which, the leading companies have increased their focus towards innovation and advancements in products to strengthen their footing in the global market. Another popular strategy taken up by the leading players in this market is the strategic mergers, acquisitions, and partnership for the expansion of their businesses, which, the increase in number of strategic acquisitions observed in this market over the past few years also corroborate, notes the research study.
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As per the research report, the global ion beam technology was worth US$367 mn in 2016. Proliferating at a CAGR of 7.20% during the period from 2017 to 2025, the market is anticipated to reach US$679.1 mn by the end of the forecast period. Among the technologies, ion beam etching systems have gained significant impetus, thanks to the extensive usage of this technology in a number of integrated circuit manufacturing procedures. Asia Pacific, among regional markets, has acquired the leadership and is anticipated to remain on the top throughout the period of the forecast, states the market report.
Demand for Ion Beam Technology Continues to Surge
The global market for ion beam technology is observing a tremendous surge in its size and valuation, thanks to the rising uptake of this technology in an effective lithography process from several manufacturers of integrated circuits. This factor is also expected to continue to boost this market across the world in the years to come.
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Furthermore, the augmenting need for thin films, globally, is likely to propel the demand of ion beam technology utilized in the production of thin film for the deposition of various materials on the wafer surface. Smartphones and various other selections of consumer electronic products deploy thinned wafers extensively, which is also projected to add to the growth of this market over the next few years, reports the research study.
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High Cost incurred on Application of Ion Beam Technology to Hold Market Back
In spite of the worldwide market for ion beam given impressions of a bright future, the growth trajectory of this market may not be smooth enough in the coming years. The high cost incurred in processing this technology and the excessive length of the procedure may hamper the growth of this market in the near future. Apart from this, the short replacement cycles of ion beam devices due to continuous technological advancements may