Semiconductor Silicon Wafer Market to USD 16.0 billion by 2030

Description
According to the Market Statsville Group (MSG), theglobal semiconductor silicon wafer market size is expected to grow from USD 11.9 billion in 2021 to USD 16.0 billion by 2030, at a CAGR of 3.4% from 2022 to 2030. The semiconductor industry has been a significant driver behind the critical innovations in significant sectors like electronics, automobile, and automation, with semiconductor technology emerging as the building block of all modern technologies. The advancements and innovations in this field are immediately impacting all downstream technologies.

Semiconductor silicon wafer remains the core component of various microelectronic devices and forms the electronics industry's cornerstone. With digitization and electronic mobility denoting the current trends in the technology landscape, these products are finding applications in many devices.

Increasing consumption of SSDs, due to trends such as cloud computing and high-performance computation is further anticipated to augment the demand for silicon wafers from the memory industry. Overall, the market is projected to witness fast growth over the forecast period.

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Global Semiconductor Silicon Wafer Market Definition

Silicon wafer is a material used for manufacturing semiconductors, which can be found in all types of electronic devices. Silicon comes second as the most common element globally, and it is regularly used as a semiconductor in the technology and electronic sectors.

Global Semiconductor Silicon Wafer Market Dynamics
Drivers: Capacity Expansion and Technological Advancement
The increasing demand for MEMS, IC, discrete semiconductors, power devices, analog optics, and compound semiconductors boosts the production and demand for silicon wafers. This trend also motivates many market vendors to expand their capacity and invest in new equipment. Also, the number of semiconduc