PORTLAND, OREGON, UNITED STATES, August 24, 2021 /EINPresswire.com/ — According to the report published by Allied Market Research, the global photolithography equipment market was pegged at $8.04 billion in 2019 and is estimated to hit $11.64 billion by 2027, registering a CAGR of 4.7% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
High demand for miniaturized electronic devices, developments in the semiconductor industry, and increase in the trend toward Internet of Things (IoT) drive the growth of the global photolithography equipment market. On the other hand, limitation of photolithography for curved surface impedes the growth to some extent. However, rise in investments for developing semiconductor fabrication facilities and upsurge in advanced consumer goods are expected to create lucrative opportunities in the coming years.
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The outbreak of the pandemic led to a steep increase in demand for medical electronic devices across the globe, which impacted the global market for photolithography equipment positively.
However, the worldwide disrupted supply chain affected the market growth to some extent.
The global photolithography equipment market is analyzed across process, application, light source, and region. Based on process, the ultraviolet segment accounted for the major share in 2019, generating around half of the global market. The extreme ultraviolet segment, on the other hand, would grow at the fastest CAGR of 7.9% by 2027.
Based on application, the back-end segment contributed to more than three-fifths of the total market revenue in 2019, and is projected to rule the roost by 2027. The same segment would also register the fastest CAGR of 5.2% during the forecast period.
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Based on region, Asia-Pacific contributed to more than three-fourths of the total market share in 2019, and is anticipated to lead the trail from 2020 to 2027. The same region would also portray the fastest CAGR of 5.1% by 2027. The other provinces studied in the report include North America, LAMEA, and Europe.
The leading market players analyzed in the global photolithography equipment market report include Canon Inc., Nikon Corporation, SÜSS MICROTEC SE, Holmarc Opto-Mechatronics (P) Ltd., S-Cubed Company, Vecco Instruments Inc., Taiwan Semiconductor Manufacturing Company Limited (TSMC), SML Holding N.V., KLA Corporation, and Osiris International GmbH. These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.