Focused Ion Beam Market Report, published by Allied Market Research, forecasts that the global focused ion beam (FIB) market is expected to reach $4.9 billion by 2022, growing at a CAGR of 7.4% from 2016 to 2022. In 2015, North America dominated the market and contributed more than 39% of the overall market revenue, followed by Asia-Pacific. Presence of key market players in the U.S. and Asia-Pacific, rapid industrialization, primarily in manufacturing sectors, increase in demand for FIB-based failure analysis equipment in electronics industry, and circuit editing applications using FIB have fueled the growth of FIB market. However, high cost of FIB equipment is the major restraint of the market.
Focused ion beam technology is rapidly adopted in almost every semiconductor and materials science sectors. In addition, their reduced cost, compact size, and quick response are estimated to fuel the market growth in both nonindustrial and industrial sectors globally. Asia-Pacific and Middle East represent a significant consumer electronic market potential, and are expected to provide lucrative growth opportunities for the market.
Gallium ion source segment dominated the market, accounting for about 40% of the overall market share in 2014. Owing to its nontoxic nature, gallium is widely accepted as a major ion source for FIB. However, others segment is expected to register a CAGR of 8.0%, and is projected to demonstrate significant growth during the forecast period. This is attributed to increased R&D of new ion types, such as lithium, to enable cost-effective and efficient operations of FIB, without compromising the quality.
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Although North America contributed towards the maximum revenue share in 2014, Asia-Pacific is expected to show highest CAGR during the forecast period. This is attributed to various factors, including increase in demand for electronic products and numerous government initiatives. Moreover, development in focused ion beam (FIB) technologies has fueled the market growth in Asian countries, particularly in China, Japan, and India.
Asia-Pacific is projected to show highest growth rate throughout the analysis period. China has the biggest market for FIB manufacturers and consumers. Moreover, surge in manufacturing industry activities and increased expenditures in the emerging markets, such as Japan and India, to cater to the exponential growth for consumer electronics have strengthened the market growth. Technological advancements for cost-effective FIB in these nations offer lucrative opportunity for the market.
Key players in the FIB market adopted acquisition and product launch as their prominent strategies to expand their business operations in the emerging countries. The major players profiled in this report include Hitachi High-Technologies Corporation, Evans Analytical Group, Fibics Incorporated, FEI, Carl Zeiss AG, ZEROK Nanotech, Thermo Fisher Scientific Inc., NanoLab, Tescan, and Waters.
The global focused ion beam market has a lucrative scope of growth during the forecast period. In 2015, North America generated the maximum revenue, followed by Asia-Pacific. Electronics and semiconductor industries are on rise in the Asia-Pacific region. Moreover, investment in R&D in these industries has increased substantially worldwide. Although high cost of FIB equipment is major challenge, innovation of cost-effective FIB equipment presents major opportunity for market growth. The FIB market is segmented based on ion source (gallium, gold, and iridium) and application (failure analysis, circuit edit, device modification, and material science). Failure analysis and circuit editing hold major market share of the global FIB market.
Increased R&D of new ion sources, such as lithium, companies try to develop advanced and cost-effective technologies. Since the market is niche, multiple prominent players to gain their foothold in the market. High investment expenditure in R&D has resulted in increased cost of FIB equipment. Since the industry demands continuous innovation, high cost of the FIB is expected to restrain the market growth. However, with the entrance of new players and tough competition between the well-established companies, the prices are expected to drop.
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