Market Trends of Automatic Mounter Wafer Equipment Industry
This section covers the major market trends shaping the Automatic Mounter Wafer Equipment Market according to our research experts:
Proliferation of IoT will be Significant Driver of the Market
- The IoT market is growing at a significant rate. A rise in the number of interconnected smart devices over the Internet, coupled with advances in critical sensor technologies is fueling the adoption of IoT for faster data communication.
- According to Ericsson’s recently published Mobility Report, Cellular IoT connections are projected to increase from 1 billion in 2018 to 4.1 billion in 2024. It is predicted that by the end of 2024, nearly 35 percent of Cellular IoT connections will be broadband IoT, with 4G connecting the majority. The report further adds that first modules supporting Critical IoT use cases are expected to be deployed in 2020.
- Favorable support from governments for the proliferation of IoT in major industries coupled with the mass adoption of the Internet is driving the adoption of IoT, thereby increasing the growth of Semiconductor Foundry market.
- For instance, the Government of India is investing USD 1 billion in developing 100 smart cities which are expected to be a key enabler for the proliferation of IoT in this region.
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Asia-Pacific to Occupy Significant Market Share
- The low cost of production along with the increasing number of production facilities in the electronics sector are the two major factors that will drive the growth of Automatic Mounter Wafer Equipment Market in the Asia-Pacific.
- According to IMF, World Economic Outlook and IMF Staff Estimates Report Asia’s contribution to the global growth of consumer electronics was 63% in 2018, much higher than any other region which highlights the importance of the Consumer Electronics Industry to this region.
- Moreover, the thriving semiconductor fabrication industry in this region is the primary reason why Asia-pacific will continue to dominate this market.
- For example, Taiwan remains the leading country in the semiconductor foundry business. Taiwan Semiconductor Manufacturing Co. remains, by some distance, the world’s largest foundry, with 2017 revenue going up to USD 32.2 billion. Moreover, Taiwan is also home to the world’s third-largest foundry, United Microelectronics Corp., and the sixth-largest company in foundry, by sales, Powerchip Technology Corp. TSMC, UMC, and Powerchip combined make Taiwan the largest market for this industry closely followed by another emerging Asian giant in this space, China.
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