Metrology market to reach $11 billion by 2028
The "Semiconductor Metrology and Inspection Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Technology, and Organization Size" report has been added to ResearchAndMarkets.com's offering.
The Semiconductor Metrology and Inspection market is projected to reach US$ 11,102.53 million by 2028, growing at a CAGR of 6.6% from 2022 to 2028. In the last few years, the consumer electronics industry has been continuously increasing and evolving.
Adoption of electronic devices is increasing due to the rise in disposable income, evolution of technologies, and improved access of internet. Consumer electronics include computers, mobile phones, earbuds, smartwatches, smartphones, washing machines, and air conditioners.
Additionally, smart home devices have been witnessing unprecedented growth rates in the past few years. Rise in demand for consumer electronics is a key driving factor for the growing demand for semiconductors. Various countries are adopting measures to reduce their dependence on other countries for procuring semiconductors. Hence they are framing policies to boost their internal semiconductor industry.
In September 2021, the US agreed to aid Mexico in boosting the latter's semiconductor production. The move is expected to aid the US in reducing dependency on China. Similarly, in February 2022, European Union (EU) announced the Chips Act, through which they aim to boost semiconductor production in the region.
With renewed interest in semiconductor production, the demand for semiconductor metrology and inspection equipment is expected to bolster in the coming years. Therefore, all such factors are expected to boost the semiconductor metrology and inspection market during the forecast period.
