Market Trends of North America Atomic Layer Deposition Industry
This section covers the major market trends shaping the North America Atomic Layer Deposition Market according to our research experts:
Semiconductor and Electronics Segment are Expected to Hold the Largest Market Share in the Forecast Period
- The market is expected to be driven due to the increasing electronics industry and semiconductor solutions in North America. The surging number of solar energy projects and data centers across the United States and Canada, to meet the demand for renewable and clean sources of energy, is driving the production of Li-ion battery and solar systems.
- Explosive growth in cloud computing has created a strong demand for data centers in the United States. Northern Virginia, the world鈥檚 largest data center market by a large margin, planned nearly 15-meter sq. ft space for construction, according to the CBRE Q1 2019 report.
- Climate change is shaping data center legislation, and technology and players are entering in partnership with energy providers in developing more energy-efficient power generating systems. For instance, in January 2020, NV Energy, the country's largest public utility, partnered with Google to power its upcoming USD 600 million data center in Henderson. The agreement involves roughly 350 MW of solar photovoltaics or PV, and between 250 MW and 280 MW of battery storage at one or more hybrid projects.
- Reduction of the solar investment tax credit and price of PV system, along with the increasing competitiveness of battery storage, is driving the renewable energy sources in the United States. By the end of September 2019, the United States deployed over 2 million solar PV systems, totaling about 71,300 MW of solar capacity and generating over 100 TWh of electricity.
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Bioscience is Expected to Showcase a Significant Market Growth
- ALD is a technique increasingly used in nanotechnology, as it is ideal for film formation in the nanometer and Angstrom length scales. It is also effectively used to modify the surface chemistry and functionalization of engineering-related and biologically important surfaces and to alter mechanical, electrical, chemical, and other properties of materials that are increasingly used in biomedical engineering and biological sciences, such as bioelectronic device, implantable device, biosensor, drug delivery device, tissue engineering scaffold, and bioassay device.
- As per the WHO medical device report, the United States accounts for 41% of the global medical device sales and has a huge market for medical devices. The increase in chronic condition patient's population, including chronic heart failure and osteoarthritis, has fueled the demand for implants.
- Medical centers and hospitals, along with research institutes, collaborated with implantable devices companies in the United States to meet the growing demand for medical devices. For instance, in October 2019, NeuroRecovery Technologies merged with GTX Medical, to develop two technologies for spinal cord injury patients: Targeted Epidural Spine Stimulation (TESS), a spinal cord implant which is a stimulation system with real-time motion feedback, and Transcutaneous Spinal Cord Stimulation (tSCS). The merged entity is now known as GTX medical BV.
- COVID-19 outbreak has outspaced the hospitals' supply and the mortality rate is increasing, due to the lack of medical equipment. The Unites States comprised 4,00,000 COVID-19 positive cases, with more than 12,000 fatal cases, as of April 8, 2020. The United States' largest car manufactures are stepping in to manufacture necessary medical devices, to meet the surging demand. For instance, General Motors planned to start producing 10,000 ventilators per month by mid-April, and Ford planned to produce 50,000 of the devices in the next 100 days. The Food and Drug Administration has also reduced certain barriers in the medical device approval process, to enable speedy production of ventilators, which are used to help patients breathe.
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