LONDON–(BUSINESS WIRE)–#InformationTechnology–The probe card market is expected to grow by USD 505.23 million during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The growing use of ICs in electronic devices has encouraged semiconductor manufacturers to expand their fab facilities. The demand for ICs is increasing because of the integration of advanced technologies such as human-machine interface technologies in electronic devices. Semiconductor foundries are also focusing on developing ICs that can support advanced technologies. This is resulting in the construction of new fabs and the expansion of existing fabs to meet the growing demand for ICs. The construction of new fabs will lead to a rise in demand for wafer testing and probe cards during the manufacture of such ICs. Thus, growing investments in fabs will drive the growth of the market.
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As per Technavio, the miniaturization of electronic products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Probe Card Market: Miniaturization of Electronic Products
Semiconductor OEMs are constantly investing in R&D to develop miniature components to cater to the growing demand for small and portable electronic products. This has led to the emergence of MEMS and 3D stacked ICs. The miniaturization of electronic components has also impacted semiconductor device manufacturers because foundries need to restructure their manufacturing facilities to ensure optimum production facilities for fabricating MEMS and 3D ICs. As a result, the demand for testing equipment is expected to increase, thereby, augmenting the growth of the probe card market during the forecast period.
“Factors such as the growing adoption of 3D NAND and increasing demand for IoT devices will have a significant impact on the growth of the probe card market value during the forecast period,” says a senior analyst at Technavio.
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Probe Card Market: Segmentation Analysis
This market research report segments the probe card market by product (advanced probe card and standard probe card), end-users (foundry and logic, and memory device), and geographic segmentation (APAC, Europe, MEA, North America and South America).
The APAC region led the probe card market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the presence of many fabs and foundries and the rising investments from the Chinese government in increasing the domestic IC production.
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Some of the key topics covered in the report include:
Advanced probe card
Standard probe card
Foundry and logic
Market positioning of vendors
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