The global silicon on insulator (SOI) market revenue is predicted to rise from $684.8 million in 2018 to more than $2,285.5 million by 2024. According to the forecast of the market research company, P&S Intelligence, the market will progress at a CAGR of 22.7% between 2019 and 2024. The market is being driven by the burgeoning requirement for silicon on insulators in consumer electronics and the surging investments being made in the SOI ecosystem across the world.

SOIs are being increasingly used in consumer electronic devices such as digital cameras, notebooks, smartphones, and tablets. Additionally, the increasing usage of smartphones, which are equipped with advanced location awareness capabilities, multimedia features, and long-term evolution (LTE) multimode connectivity, on account of the increasing penetration of the internet and soaring digitalization, especially in the Latin American (LATAM) and Asia-Pacific (APAC) countries, is also driving the demand for silicon on insulator across the globe.

Furthermore, with the emergence of the 5G technology, the sales of smartphones are expected to soar all over the world in the coming years. In addition, the increasing disposable income of people and the rising industrialization rate, especially in countries such as India and China, are also propelling the demand for mobile devices. For example, the disposable income of people in China surged by nearly 7.5% from 2017 to 2018. With the growing adoption of digital services and soaring disposable income of people, the sales of smartphones will shoot up in the forthcoming years.

Get the Sample Copy of this Report : https://www.psmarketresearch.com/market-analysis/silicon-on-insulator-market/report-sample

Hence, it can be said without any hesitation that the market will register huge expansion in the years to come, primarily because of the mushrooming sales of smartphones and other consumer electronics, on account of the increasing internet penetration, rising requirement for SOIs in consumer electronic devices, and the surging investments being made in the SOI ecosystem all over the world.

This market research report provides a comprehensive overview of the market

* Future potential of the market through its forecast for the period 2020– 2030
* Major factors driving the market and their impact during the short, medium, and long terms
* Market restraints and their impact during the short, medium, and long terms
* Recent trends and evolving opportunities for the market participants
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings