LONDON--(BUSINESS WIRE)--The probe card market is expected to grow by USD 505.23 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
Request challenges and opportunities influenced by COVID-19 pandemic - Request a Free Sample Report on COVID-19 Impacts
The rising global adoption of electronic devices is increasing the demand for ICs. This is due to the integration of advanced technologies such as human-machine interface in electronic devices. To cater to the growing demand for ICs, semiconductor manufacturers are focusing on expanding their existing fabs or constructing new fabs. For instance, in 2017, Intel announced its plans to finish its Fab 42, located in Arizona, by 2021. The company has invested USD 7 billion in this fab and it is claimed to be the most advanced semiconductor fab in the world. Such investments by semiconductor manufacturers will fuel the growth of the global probe card market during the forecast period.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40623
As per Technavio, the miniaturization of electronic products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Probe Card Market: Miniaturization of Electronic Products
The growing adoption of small and portable electronic devices is compelling semiconductor OEMs to increase their R&D efforts to develop components as per end-user requirements. This led to the emergence of MEMS and 3D stacked ICs. Also, the trend of miniaturization has led semiconductor manufacturers to restructure their manufacturing facilities to ensure optimum production facilities for fabricating MEMS and 3D ICs. Thus, the miniaturization of electronic products will have a positive impact on the growth of the global probe card market during the forecast period.
“Increasing wafer size and increasing demand for IoT devices will further boost market growth during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports
Probe Card Market: Segmentation Analysis
This market research report segments the probe card market by Product (Advanced probe card and Standard probe card), End-user (Foundry, logic, and Memory device), and Geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the probe card market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the high concentration of fabs and foundries in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.