Porous Silicon Substrates Market Size

Porous Silicon Substrates Market size was valued at USD 5.38 Billion in 2023 and is likely to cross USD 13.76 Billion by the end of 2036, expanding at more than 7.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of porous silicon substrates is estimated at USD 5.74 Billion. The primary growth factor of porous silicon substrates market is attributed to increase in number of Internet of Things (IoT) across the world. Recent data revealed that the number of Internet of Things (IoT) is forecasted to be tripled from 10 billion in 2020 to 30 billion in 2030.

The penetration of technology plays an important role in the development of macro-porous silicon and especially with the innovation of the IoT and connected devices, the porous silicon substrates market is estimated to witness rapid growth. Increasing demand for porous silicon substrates for a high degree of biocompatibility, and the development of advanced semiconductor components, are expected to propel demand over the coming years. Thus, the high revenue generation by IoT are anticipated to expand the porous silicon substrates market. By 2025, IoT solutions is forecasted to generate around 12 trillion dollars worldwide. Further, porous silicon substrates are widely employed in a variety of applications, including computers, energy devices, medical devices, information and communications technology, and other applications which is estimated to boost the market.