(MENAFN- EIN Presswire)

CHICAGO, UNITED STATES, September 6, 2023/EINPresswire/ -- Global Wafer Dicing Services Market revenue was US$ 561.8 million in 2022 and is projected to exceed a valuation of US$ 804.8 million by 2031, growing at a CAGR of 4.21% during the forecast period from 2023 to 2031.

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Due to numertechnical developments and the growing demand for downsizing in electronics, the wafer dicing services market, a crucial component of the semiconductor manufacturing industry, has undergone an impressive period of change. The market's view for the future is still favorable, and additional growth is anticipated over the next few years.

The global market is growing due to the wearable technology industry's rapid expansion. The market will probably continue to flourish and develop in response to these demands as businesses compete to produce smaller, more potent wearable gadgets. For instance, in September 2023, Muse Wearables, an IIT Madras-founded tech start-up with offices in Bengaluru, unveiled Ring One, its own take on the smart ring. The wearable has cutting-edge health-tracking functions and support for contactless payments.

The shift to ultra-thin wafers, which is a reflection of the constant quest for further downsizing and improved performance across industries, is a dominant trend influencing the wafer dicing services market. These wafers are flat and incredibly thin. Miniaturization has also made it necessary to combine multiple functionalities into a single chip. There is a new development in wafer technology because of the large-sized wafers, which can have a diameter of up to 12 inches. For instance, in May 2023, Molex, Koch's electronic connection company, which is famed for its mastery of miniaturization, responded to these particular issues by creating robust product lines of micro connectors, including the Quad-RowTM, the smallest board-to-board connector in the world.

The emergence of smart cities and Industry 4.0, both of which call for high-performance processors, will also open up new market opportunities, further fueling market growth. To create smart cities, a number of gadgets will need to be implemented. Silicon wafers are widely used in devices, including sensors, transducers, and electrical components. Even data collected by cameras and sensors is kept in databases that need several ICs. These silicon wafers must be treated to create all of these ICs. The market will see an increase in demand for dicing as a result of increasing demand for silicon wafers.

Silicon Carbide Material Contributed About 37.5% of Market Revenue Share

Silicon carbide remains the market leader in terms of material on a global scale. This material's dominance of the market in 2022-over 37.5%-shows how widely used it is in numerapplications. The silicon carbide market is expected to increase at a compound annual growth rate (CAGR) of 4.42% over the forecast period, which highlights the material's rising demand in wafer dicing.

The advent of electric vehicles and renewable energy technologies, where silicon carbide-based components play a significant role, together with the trend toward energy-efficient and compact gadgets are the main factors driving this demand. The Asia-Pacific region has a significant impact on the growth trajectory of completely autonomvehicles, including technological improvements, customer acceptance of fully automated vehicles, affordability, and suppliers' and OEMs' ability to solve important safety issues.

This expansion will also be facilitated by developments in silicon carbide wafer manufacturing and dicing technologies, which enable improved production efficiency and reduced production costs.

North America Generated About 35% of Revenue Share

North America dominated the global wafer dicing services market, with over 35% of the market share in 2022. Several interrelated variables that foster an atmosphere favorable to technical advancement and innovation are responsible for the region's prominence. The prevalence of well-known semiconductor firms and wafer-dicing service providers, such as Intel, Qualcomm, and Texas Instruments, is a crucial element in the region's leadership.

High demand for cutting-edge electronics and digital technology in North America is another important factor for the market growth. Consumer behavior in the area is noted for its early acceptance of new technology, which results in a demand for complex semiconductor components. Wafer dicing services are increasingly in demand as industries like artificial intelligence, the Inteof Things, 5G communications, and electric vehicles-all of which call for high-performance chips-evolve quickly in this area.

Additionally, North America's robust regulatory environment contributes to the region's continued market dominance. A vibrant and competitive market is facilitated by regulations that encourage fair competition, safeguard intellectual property rights, and encourage R&D. With the knowledge that their investments are protected by law, these laws create an environment where wafer-dicing service providers can confidently invest in new technology.

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Competitive Landscape

With the existence of both seasoned important players and emerging start-ups, the market landscape has grown increasingly competitive and diverse in recent years. The scope and possibilities of this industry are further increased by the fact that these businesses serve a diverse variety of industries, including consumer electronics, automotive, healthcare, aerospace, and defense, among others.

Some of the Leading Companies are:

.American Precision Dicing Inc.
.ICT
.Majelac Technology
.SyagSystem
.SVM
.ADVACAM
.Advanced International Technology
.DICorporation
.Micro Precision Engineering
.Optim Wafer Services
.Other Prominent Companies

Segmentation Outline

The global wafer dicing services market segmentation focuses on Materials, Size, Dicing Technology, and Region.

By Materials
.Silicon Carbide
.Alumina
.Silicon
.Others (Sapphire, Pyrex Glass, Glass, etc.)
By Size
.300 mm
.200 mm
.Others
By Dicing Technology
.Wafer Scribing & Breaking
.Mechanical Sawing
.Laser Dicing
.Plasma Dicing
By Region
.North America
oThe U.S.
oCanada
oMexico
.Europe
.Western Europe
The UK
Germany
France
Italy
Spain
oRest of Western Europe
.Eastern Europe
Poland
Russia
oRest of Eastern Europe
.Asia Pacific
oChina
oIndia
oJapan
oAustralia & New Zealand
oSouth Korea
oASEAN
oRest of Asia Pacific
.Middle East & Africa (MEA)
oSaudi Arabia
oSouth Africa
oUAE
oRest of MEA
.South America
oArgentina
oBrazil
oRest of South America

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