Global Sic-On-Insulator And Other Substrates Market Set For Robust Growth By 2029, Driven By Technological Advancements And Rising Demand
(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 04, 2024 (GLOBE NEWSWIRE) -- The "Global SiC-On-Insulator and Other Substrates market by Substrate Type (Semi-insulating SiC Substrates, Conductive SiC Substrates), Wafer Size (100mm, 150mm and 200mm), Application (Power Devices, RF Devices) and Region - Forecast to 2029" report has been added to ResearchAndMarkets's offering.
The SiC-on-insulator and other substrates market is expected to witness significant growth, with projections indicating a leap from USD 99 million in 2024 to USD 149 million by 2029. This reflects a compound annual growth rate (CAGR) of 8.5% over the forecast period. Key factors propelling this expansion include elevated deployment in 5G technology and increased utilization within electric vehicle production. Additionally, opportunities emerging from biomedical device integration further underscore the market's growth trajectory.
Within the SiC-on-insulator and other substrates market, power devices are anticipated to seize the predominant share during the forecast period. The inherent thermal properties of SiC substrates, yielding greater efficiency and thermal management, enable their widespread application across various demanding environments. The characteristics of compactness and high power density serve as additional facets driving preference for these substrates in sophisticated power device solutions.
Conductive SiC Substrates to Lead Market Size
Conductive SiC substrates are forecasted to be the segment holding the largest market size. This is attributed to their advanced features such as swift switching speeds, ability to handle high voltage thresholds, and improved temperature resilience – essential for high-performance power devices that operate beyond the limitations of traditional silicon.
Asia Pacific to Experience Highest CAGR
The Asia Pacific region is poised to exhibit the highest CAGR in the SiC-on-insulator and other substrates market, fueled by the proliferating developments in this sector, surging electric vehicle demand, and the presence of key industrial players. The region benefits from cost-effective resources and an environment supportive of market growth, solidifying its position as a leader in this industry.
Competitive Landscape and Strategic Insights
The competitive arena is defined by substantial strategies and offerings from industry leaders. They are at the forefront of addressing the market's demands, investing in new technologies, and expanding their product portfolios to capture a greater market share. The market's trajectory is bolstered by the efficacy of these strategic business movements.
Market Dynamics and Industry Trends
The report delineates a detailed analysis of the industry drivers, constraints, and opportunities that sculpt the market landscape. It encapsulates key insights into product innovation trajectories, market development across various regions, and the market diversification strategies that are shaping the future of SiC-on-insulator and other substrates.
Forging the Path Forward
Stakeholders are provided with a rich tapestry of market dynamics that offer a clear perspective on where the industry is headed. Those invested in the market will find the insights invaluable for forming robust market positioning and tailoring go-to-market strategies to navigate the competitive environment with foresight and precision.
This press release highlights the industry's potential for continued innovation and expansion and marks a significant step towards understanding the future of semiconductor technologies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $99 Million |
| Forecasted Market Value (USD) by 2029 | $149 Million |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
Companies Profiled
Wolfspeed, Inc. Sicc Co. Ltd. Soitec Coherent Corp. Globalwafers Xiamen Powerway Advanced Material Co. Ltd. Ceramicforum Co. Ltd. Homray Material Technology Shanghai Zhongyingrong Innovative Material Technology Co. Ltd Precision Micro-Optics Inc. Sicrystal GmbH Synlight Tankeblue Co,. Ltd.
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Global SiC-On-Insulator and Other Substrates Market
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