Global Physical Vapor Deposition (PVD) Equipment Market - Segmented by End User (Microelectronics, Storage Equipment, Cutting Tools), and Geography - Growth, Trends, and Forecast (2018 - 2023)
The physical vapor deposition (PVD) equipment market is projected to register at a CAGR of 8.9% during the forecast period (2018 - 2023).
The scope of the report includes insights about several products offered by major players. The end user segment comprises of microelectronics, storage equipment, cutting tools, solar products, and medical equipment. The regions included in this study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Physical vapor deposition (PVD) is a vacuum coating process, in which, the surfaces of various products, such as microelectronics, cutting tools, storage devices, medical equipment, solar products, etc., are coated with materials to form a thin protective film. With increasing demand for durable consumer electronics, the demand for PVD coatings has sky rocketed in the past four years, leading to increased demand for PVD equipment.
Increasing Demand from Consumer Electronics to Play a Key Role
Traditionally, the consumer electronics market constantly demands higher power dissipation, faster speeds, and higher pin counts, along with smaller footprints and lower profiles. The miniaturization and integration of semiconductors have given rise to smaller, lighter, and more portable devices, like tablets, smartphones, and the emerging IoT devices. With each technological iteration, consumer electronics product are becoming smarter, lighter, and more-energy efficient than previous generations. This level of technology being achieved, the consumers are now tending toward more reliable gadgets that could stand minor mishaps that take place during day-to-day activities.
Even the biggest smart phone brands, like apple and Google, are implementing water resistance and tamper proof solutions to meet their consumer requirements. The Apple’s 2007 version of iPhone had involved just two wafer level packaging. By the third iteration of iPhone (iPhone 5), the device consisted of seven wafer levels packaging. By 2016, the iPhone 7 series had about 44 wafer levels of packaging in the device. This is the case with all the other consumer electronics giants in the market, and this is driving these vendors to make hardware that is more reliable, using PVD technology. With continuous demand for more sophisticated and mobile consumer electronics, the demand for PVD equipment is expected to grow considerably over the forecast period.
Key Developments in the Market