NEW YORK, July 11, 2023 /PRNewswire/ -- The semiconductor industry stands apart in its exceptional nature on multiple fronts. With precision that surpasses even the aerospace sector and a production process of unparalleled complexity that outshines automotive firms, it achieves production volumes on par with the electronics industry. Yet, this industry faces additional challenges that set it apart. It must navigate the imperative to minimize water consumption and reduce the reliance on chemicals in its manufacturing processes. Global technology intelligence firm ABI Research forecasts that spending on digital technologies by semiconductor manufacturers will increase by a 9.6% Compound Annual Growth Rate (CAGR) over the next 10 years and reach US$6.2 billion in 2033.
"Complexities concerning the creation of the silicon wafers means that ramping up production is not as straightforward as other sectors. The process is more akin to an artisanal production process. Semiconductor manufacturers need to be adept at demand planning, ensuring quality levels, and production scheduling to increase yield so that clients have enough chips for their needs," explains Michael Larner, Industrial & Manufacturing Markets Research Director at ABI Research.
Solutions from small innovative suppliers, such as Eyelit, Galaxy Semiconductor, and PEER Group, can help manufacturers control their operations. Meanwhile, Flexciton can assist manufacturers with optimizing their schedules, and camLine can help ensure product quality. The need to analyze and control operations is expected to fuel spending on data analytics to grow by a CAGR of 12.6% over the next 10 years and be worth US$1.14 billion in 2033.
The U.S. Government's CHIPS and Science Act will not have any meaningful impact on the supply of semiconductors in the next two to three years as new facilities need to be built. "Also, the timelines relating to each announcement are predicated on having skills in the local labor force to construct and operate the facilities. Regardless of initiatives by the U.S. Government and the European Union, the Asia-Pacific region will remain central to the semiconductor industry as the governments of China, Taiwan, Japan, and South Korea also encourage the construction of new facilities to meet the anticipated demand," Larner concludes.
These findings are from ABI Research's Digital Transformation of Semiconductor Manufacturing application analysis report. This report is part of the company's Industrial and Manufacturing Markets research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present in-depth analysis on key market trends and factors for a specific application, which could focus on an individual market or geography.
About ABI Research
ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.
ABI Research是一家国际科技情报公司，为全球科技领袖、创新人士和决策者提供实用的市场研究和战略性指导。我们密切关注一切为各行各业、全球经济和劳动市场带来颠覆性变革的创新与技术。
For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
Global
Deborah Petrara
Tel: +1.516.624.2558
pr@abiresearch.com
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