Semiconductor Metrology And Inspection Equipment Market Size

Semiconductor Metrology & Inspection Equipment Market Analysis

The Semiconductor Metrology And Inspection Equipment Market size is estimated at USD 10.47 billion in 2024, and is expected to reach USD 13.49 billion by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).

• Semiconductor metrology and inspection are essential for managing the semiconductor manufacturing process. There are about 400 to 600 steps in the manufacturing process of semiconductor wafers, which are undertaken in one to two months. If deficiencies occur early in the process, all the work undertaken in the subsequent steps will be wasted. Metrology and inspection processes are established at critical points of the semiconductor manufacturing process to ensure that a specific yield can be confirmed and maintained.
• Smartphones and other applications across consumer electronics and automotive applications are driving the demand for high-performance, low-cost semiconductor materials. Technology transitions, such as wireless technologies (5G) and Artificial Intelligence, inspire these industries. Also, the trend of increasing Internet of Things (IoT) devices is expected to encourage the semiconductor industry to invest in this equipment to attain smart products.
• The growing trend of adoption of connected IoT devices in industrial and residential sectors augments the demand for high-performance semiconductors, which in turn is creating a favorable outlook for the growth of the studied market. According to Ericsson, the number of devices connected IoT technologies NB-IoT and Cat-M reached almost 500 million at the end of 2022. Furthermore, in 2022, broadband IoT (4G/5G) connections reached 1.3 billion and is anticipated to capture about 60 percent of all cellular IoT connections by 2028.
• However, factors like high setup costs and lack of expertise in handling metrology systems are expected to hinder the market's growth during the forecast period efficiently. To handle such challenges, the metrology services are being provided on-demand by service-oriented players and made available to provide a professional extension in the specialized field of precision dimensional metrology.
• Furthermore, macroeconomic factors such as the current US-China trade dispute also challenges the growth of the studied market as the United States has placed several sanctions on China which prevents the country from getting advanced semiconductor equipment. As China is among the leading regions in the studied market's supply chain, such trends hampers the studied market's growth.