Global Photomask Market 2017-2021

Overview of the global photomask market

Market research analysts at Technavio predict that the global photomask market will grow steadily during the next four years and post a CAGR of over 3% by 2021. This market research analysis identifies the rising demand for the Internet of Things (IoT) as one of the primary growth factors for this market. IoT is a network of mechanically and digitally interconnected computing devices that provides a unique capability to transfer data and information over the network without any human-to-computer interaction. The IoT market is one of the fastest growing markets as it enables the connected device to use sensorsand actuators to collect, record, and transmit data to other computing devices on a real-time basis. The higher adoption of IoT will demand the need for semiconductors which in turn, will drive the growth of the photomask market.

One of the latest trends that will gain traction in the photomask market in the coming years is the shorter replacement cycle of electronic gadgets. Due to the technological advancements and the increase in disposable incomes, the buying pattern for consumer electronics is constantly changing and most of the customers are upgrading to new and improved electronic products. This will boost the sales of consumer electronics, which will consequently drive the semiconductor manufacturing and photomask market during the forecast period.

Competitive landscape and key vendors