CHICAGO, Nov. 5, 2019 /PRNewswire/ -- According to the new market research report "Focused Ion Beam Market by Ion Source (Ga+ Liquid Metal, Plasma), Application (Failure Analysis, Nanofabrication), Vertical (Electronics & Semiconductor, Industrial Science, Material Science, Bioscience), and Region - Global Forecast to 2024", published by MarketsandMarkets, the Focused Ion Beam Market is projected to grow from USD 820 million in 2019 to USD 1,185 million by 2024; it is expected to grow at a CAGR of 7.6% from 2019 to 2024. Key factors fueling the growth of this market include the rise in demand for failure analysis in the electronics & semiconductor industry and increase in demand for ion beam lithography process using focused ion beam systems for producing patterns across the surface of samples.
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"The Ga+ liquid metal segment accounted for the largest share of the focused ion beam market in 2019."
In 2019, the Ga+ liquid metal segment captured the largest share of the focused ion beam market. The growth of this segment can be attributed to several advantages offered by focused ion beam systems using Ga+ liquid metal as an ion source. Moreover, the majority of manufacturers of focused ion beam systems are deploying Ga+ liquid metal ion sources in their systems. Several applications such as ion implanters, ion projection lithography, and particle accelerator injectors use plasma ion source-based focused ion beam systems.
"The failure analysis segment of the market is projected to grow at the highest CAGR during the forecast period."
Among applications, the failure analysis segment of the focused ion beam market is projected to grow at the highest CAGR from 2019 to 2024. The growth of the failure analysis segment of the market can be attributed to the increased use of focused ion beam systems for carrying out the failure analysis of components or devices to recognize the cause leading to their failure during their manufacturing process. Manufacturers use focused ion beam systems to test and analyze the performance of different components or devices, thereby leading to an increased demand for these systems from the electronics & semiconductor vertical.
"The electronics & semiconductor segment of the focused ion beam market is projected to account for the largest size from 2019 to 2024."
Among verticals, the electronics & semiconductor segment accounted for the largest share of the focused ion beam market in 2019. The growth of this segment can be attributed to the increasing consumer demand for fast, compact, pocket-friendly, and highly power-efficient portable devices. As the size of electronic components shrinks, it affects their reliability and performance. Focused ion beam systems are required to analyze the performance of these components.
"The focused ion beam market in APAC is projected to grow at the highest CAGR during the forecast period."
The focused ion beam market in APAC is projected to grow at the highest CAGR from 2019 to 2024. The growth of the market in this region can be attributed to increased investments in R&D activities by government organizations and manufacturing companies as well as expansions of research centers carried out by focused ion beam system manufacturers in APAC. Governments of countries such as Japan, China, and India have been taking rapid initiatives to encourage companies to set up their manufacturing and R&D facilities there.
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Key players in the market include Thermo Fisher Scientific, Inc. (US), Hitachi High-Technologies Corporation (Japan), ZEISS International (Germany), Tescan (UK), JEOL Ltd. (Japan), HORIBA, Ltd. (Japan), Eurofins Scientific (Luxembourg), and A&D Company, Limited (Japan). These players are increasingly undertaking product launches, agreements, partnerships, collaborations, joint ventures, and mergers and acquisitions to increase their market shares.
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