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Silicon Wafer Market Growth Will Be Propelled by the Growing Adoption of Automation in the Automotive Sector by 2024

Technological advancements to enhance the capabilities of wafers will drive the silicon wafer market growth


Sellbyville, DE -- (SBWIRE) -- 05/21/2019 -- Global Market Insights added a new report on global silicon wafer market to its research database. The report focuses on global major leading players with information such as company profiles, growth, product segment, technology segment, end user segment and region.

The growing adoption of automation in the automotive sector will contribute to the silicon wafer market growth. The demand for vehicle electrification and increased connectivity will encourage the R&D in the industry. The introduction of technologies, such as Advanced Driver-Assistance Systems (ADAS), will further aid in the industry growth. There is a growing significance of connected cars with the ongoing trends revolutionizing the automotive sector. The advent of technologies, such as adaptive cruise control and automatic braking systems, will further contribute to the silicon wafer industry growth. Key trends, such as IoT, touch-free human-machine interfaces, and connectivity features in cars, will encourage the industry growth.

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The growing importance of renewable energy sources has led to a rise in the demand for solar energy. There is high growth in the number of solar panel installations owing to the rising awareness about the advantages of using solar energy. Solar panels and cells are created using silicon wafers due to their semiconducting properties. The solar band efficiency of 1.1 eV of silicon makes it a practical option to be used for these panels. The abundance of silicon, stable cell efficiencies, and non-toxicity make it a suitable material choice for photovoltaics, boosting the silicon wafer market growth. The high-performance efficiency offered by silicon solar panels is further contributing to the silicon wafer industry growth.

Memory demand is rising across various applications from mobile devices to servers. The rising wafer costs and tight supply constraints are compelling memory manufacturers to transition to higher NAND and DRAM densities. The increasing need for high-memory applications will drive the silicon wafer market growth. Memory and logic devices that include SDRAM, DRAM, GPU, CPU, and flash memory are used in mobile internet devices, gaming devices, digital music players, and computers. Moreover, increasing use of networking devices demanding high logic and memory capabilities will aid the silicon wafer industry growth.

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Asia Pacific silicon wafer market is poised to witness growth owing to the booming automotive sector in the region. Several government initiatives in India encouraging foreign investments in the automotive sector have led to the growth of the industry. In addition, the flourishing electronics industry in China will also favor the silicon wafer industry growth. The advent of Industry 4.0 and technologies, such as IoT and AI in the automotive sector, will fuel the demand for these wafers for high performance and smooth operation of the vehicle.

Key players in the silicon wafer market include Shin-Etsu Chemical Co., Ltd., SUMCO Corporation, Siltronic AG, Shanghai Simgui Technology, Wafer Works Corporation, GlobalWafers Singapore Pte. Ltd., and Tokuyama Corporation. The silicon wafer market is witnessing steadily growing competition with increasing number of players focusing on making investments in the R&D of wafer technology.

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