According to a study performed by PWC Global, a multinational research and advisory firm, the semiconductor industry is expected to grow by $30 billion per year up to 2022. Even with the emergence of COVID-19, there are different markets that are driving the worldwide demand for chips and wafers, which in turn has increased the demand for semiconductor process equipment.
- CONSUMER ELECTRONICS: It’s expected that semiconductor sales in the consumer electronics sector will grow by an annual growth rate of 6% through 2022, with 50% of it being driven by TVs and Gaming consoles. Though it’s a smaller segment, Wearable devices will also contribute to the demand with an annual growth rate of 21%. When the COVID-19 Pandemic hit in 2020, the demand for personal computers and home office equipment rose but is projected to decrease slightly in 2021.
- TELECOMMUNICATION/5G: Almost 80% of the demand for semiconductors from the communications market is driven by phones. Though the phone market is highly saturated, the introduction of 5G, the continuing high replacement rates of smartphones, and the increasing demand for phones in emerging markets will maintain annual growth of 2.2% for the market.
- MEDICAL DEVICE: Since 2016, the digitalization of medical devices led to an increased demand for chips. With COVID-19’s occurrence in 2020, demand for contact-less medical devices and at-home assisted-living devices is expected to contribute to a higher rise of semiconductor orders.
- Â AUTOMOTIVE: The automotive market will grow fastest with an annual growth rate of 11.9% through 2022, due to the larger order for electric and hybrid vehicles, as well as the market potential for autonomous vehicles.
- Â ARTIFICIAL INTELLIGENCE: The PWC Global report states that AI will be the catalyst for another decade-long growth cycle for the semiconductor sector with functions such as facial recognition, robotics, and factory automation contributing to its advancement. AI-related semiconductors are expected to grow from a current $6 billion in revenues to more than US$30 billion by 2022, an annual growth of almost 50%.
With the projected rise in demand, chipmakers are expected to increase their orders for process and fabrication equipment. In SEMI®’s September sales forecast, they reported that global spending for semiconductor equipment spending grew by 8% in 2020 and will see a 13% increase in 2021.
Subsequently, process equipment makers in the areas of Deposition, Etching, Cleaning, and Defect Inspection all have cautiously forecasted steady growth and the need for highly skilled workers. Local job postings for Mechanical, Electrical, Manufacturing, and Process Engineers have steadily increased.
SoloPoint Solutions has decades’ worth of experience recruiting for semiconductor equipment companies and have developed a strong network of skilled engineers in this area.
To learn more about our services, contact us today: