PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1415814
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1415814
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | By Substrate Type, Wafer Size, Application and Region |
Regions covered | North America, Europe, APAC, RoW |
The SiC-on-insulator and other substrates market is projected to reach USD 149 million by 2029 from USD 99 million in 2024, at a CAGR of 8.5% from 2024 to 2029. The major factors driving the market growth of the SiC-on-insulator and other substrates include the increasing deployment of SiC substrates in 5G technology and the accelerating adoption of SiC substrates in electric vehicles. Moreover, the growing implementation of SiC-on-insulator substrates in biomedical devices is expected to provide several growth opportunities for market players in the SiC-on-insulator and other substrates market.
Power devices are expected to account for the largest market share in the SiC-on-insulator and other substrates market during the forecast period.
The superior thermal conductivity of SiC, is more than three times better than Si, which allows the use of a small die for the same temperature rise. Therefore, the growing implementation of SiC-on-Insulator substrates in power devices is attributed to gaining higher power density, tolerance for harsh environments, reduced power losses, enhanced efficiency, and superior thermal conductivity. As a result, SiC-on-insulator is highly preferred for power device applications due to which power devices are expected to account for the largest market share in the SiC-on-insulator and other substrates.
Conductive SiC substrates are expected to account for the largest market size in the SiC-on-insulator and other substrates market during the forecast period.
In comparison to traditional silicon devices, power devices based on conductive SiC substrates offer several advantages such as faster switching speeds, higher voltages, lower parasitic resistances, compact sizes, and reduced cooling requirements. The capability of these devices to withstand high temperatures positions them as robust solutions for applications where traditional silicon counterparts may face limitations. Therefore, conductive SiC substrates are expected to account for the largest market size in the SiC-on-insulator and other substrates market.
Asia Pacific is expected to account for the highest CAGR during the forecast period.
The growing number of developments related to SiC-on-insulator and other substrates, surging demand for electric vehicles, the growing number of initiatives and schemes, the presence of key players and the availability of cost-efficiency resources fuel the market growth of SiC-on-insulator and other substrates. Therefore, the market growth of SiC-on-insulator and other substrates in Asia Pacific is expected to account for the highest CAGR during the forecast period.
The break-up of profile of primary participants in the SiC-on-insulator and other substrates market-
The major players of the SiC-on-insulator and other substrates market are Wolfspeed, Inc. (US), SICC Co., Ltd. (China), SOITEC (France), Coherent Corp. (US), GlobalWafers Co., Ltd. (Taiwan)
Research Coverage
The report segments the SiC-on-insulator and other substrates market and forecasts its size based on substrate type, application, and region. The report also provides a comprehensive review of drivers, restraints, opportunities, and challenges influencing market growth. The report also covers qualitative aspects in addition to the quantitative aspects of the market.
The report will help the market leaders/new entrants in this market with information on the closest approximate revenues for the overall SiC-on-insulator and other substrates market and related segments. This report will help stakeholders understand the competitive landscape and gain more insights to strengthen their position in the market and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.