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THE global semiconductor photolithography equipment market is set to grow at a CAGR of 8.97 percent between 2016 and 2020, according to the latest report from Research and Markets.
The research is found in a report titled “Global Semiconductor Photolithography Equipment Market 2016-2020”, which covers the current market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to Research and Markets, the miniaturisation of semiconductor components and the increase in the number of fabless companies will fuel the demand for photolithography equipment during the next four years.
According to the report, as the electronic device industry grows, the demand for semiconductor ICs for different applications, such as communication devices, consumer electronic devices, memory devices, and sensor devices, increases, driving the need for photolithography equipment.
However, uncertain global economic conditions will be a major challenge that the market faces.