November 12, 2018
The global market for semiconductor machinery manufacturing has the potential to see significant growth, according to the new BCC Research report, Semiconductor Machinery Manufacturing: Global Markets to 2023. Semiconductors are used extensively in electronic products, which are in higher demand now more than ever. Additionally, increasing investments in smart city projects and rising investments in semiconductor research projects are driving the demand for semiconductor machinery in the forecast period.
The semiconductor machinery manufacturing market reached a value of nearly $57.8 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 14.6%, reaching nearly $114.4 billion by 2023.
“The semiconductor machinery manufacturing market is expected to benefit from rising investments in smart city projects in many developed and developing countries,” the report notes. “Smart city technologies are being used to manage assets and resources efficiently, including management of transportation systems, water supply networks and law enforcement. Smart city technologies are integrated with IoT devices and equipment, which extensively use semiconductor devices, thereby benefiting the companies operating in the semiconductor machinery manufacturing market.”
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Semiconductor Machinery Manufacturing: Global Markets to 2023( MFG067A )
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