The Silicon on Insulator (SOI) market is projected to grow from USD 894 million in 2019 to USD 2,186 million by 2024, at a CAGR of 19.6% from 2019 to 2024.


Effective use of silicon during the manufacturing of thin SOI wafers and low operating voltage and high performance of SOI-based devices are some of the factors expected to contribute to the growth of the SOI market across the globe. The flourishing Integrated Circuit (IC) industry, expanding SOI ecosystem in Asia Pacific, and increasing use of SOI in IoT applications act as growth opportunities for the SOI market. However, the floating body and self-heating effects in SOI-based devices act as challenges for the manufacturers of SOI wafers.


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The Radio Frequency Front-end Module (RF FEM) segment accounted for the largest share of the SOI market in 2018

Based on product, the RF FEM segment accounted for the largest share of the SOI market in 2018. The growth of this segment can be attributed to the increased demand for RF FEM in upcoming 5G technology as well as consumer electronic devices such as smartphones, laptops, and tablets. Currently, all smartphones use RF chips comprising RF-SOI wafers. In the SOI ecosystem, wafer manufacturers and foundry players are also taking initiatives for the development of RF FEM products using SOI technology. For instance, GlobalFoundries (US) has developed advanced RF-SOI platforms that integrate low noise amplifiers, power amplifiers, RF switches, and phased-array antennas with RF FEM for advanced 4G LTE. The company is also focusing on improving the performance of its power amplifiers, low noise amplifiers, and RF switches to meet 5G FEM specifications with the help of advanced RF-SOI technology. These initiatives are expected to fuel the growth of the RF FEM segment of the market.


The automotive application segment of the SOI market is projected to grow at the highest CAGR during the forecast period

The automotive application segment is projected to grow at the highest CAGR between 2019 and 2024. This growth can be attributed to the increasing investments being made by automotive giants and other business leaders for the development of Advanced Driver-assistance Systems (ADAS) and driverless cars. For instance, Audi (Germany) is making efforts to integrate FD-SOI with devices or sensors used in its autonomous cars. These cars require high-speed, low-power, and compact electronic devices for their operations. This, in turn, leads to the increased demand for SOI-based wafers. Moreover, other products in autonomous cars that use FD-SOI wafers are infotainment systems, instrument clusters, Head-up Displays (HUDs), and e-cockpits.


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The SOI market in Asia Pacific is projected to grow at the highest CAGR during the forecast period

The SOI market in the Asia Pacific region is projected to grow at the highest CAGR from 2019 to 2024. Increasing investments by wafer manufacturers and foundry players are influencing the growth of the SOI market in this region. For instance, in March 2018, Shin-Etsu Chemical (Japan) carried out around USD 996 million facility investments for its silicones business. These investments are aimed at enabling the company to expand its business in the Asia Pacific region. Moreover, in June 2018, TowerJazz (Israel) announced the expansion of RF-SOI 65 nm process in its 300 mm Uozu, Japan fab.


Key Market Players

Soitec (France), Shin-Etsu Chemical (Japan), GlobalWafers (Taiwan), SUMCO Corporation (Japan), Simgui (China), GlobalFoundries (US), TowerJazz (Israel), Sony (Japan), WaferPro (US), STMicroelectronics N.V. (Switzerland), NXP Semiconductor N.V. (Netherlands), Ineda Systems (India), Evaderis (France), Murata Manufacturing (Japan), Skyworks Solutions (US), Qorvo (US), MagnaChip Semiconductor (South Korea), UMC (Taiwan), TSMC (Taiwan), Qualcomm (US), Silicon Valley Microelectronics (US), and EV Group (UK) are leading companies operating in the SOI market.


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