Pragmatic Semiconductor's Major Funding Boosts UK's Semiconductor Industry
The investment supports the construction of Pragmatic's 3rd and 4th fabrication lines at its facility in Durham and anticipates the addition of at least 8 manufacturing lines over the next five years. This expansion will create over 500 jobs and produce billions of chips for various sectors, including consumer goods, healthcare, and more. The technology's potential to revolutionize item-level intelligence and contribute to a circular economy is particularly noteworthy.
The semiconductor manufacturing equipment market, closely tied to these advancements, is projected to grow from USD 91.2 billion in 2023 to USD 149.8 billion by 2028, at a CAGR of 10.4%. The growth is driven by the demand for semiconductor parts in electric and hybrid vehicles and the widespread adoption of 5G technology.
Key players in this market include Tokyo Electron Limited, Lam Research Corporation, ASML, Applied Materials, Inc., and KLA Corporation. These companies have a significant global presence and a strong product portfolio. The market faces challenges like the complexity of semiconductor chip patterns and a global shortage of skilled workers.
Pragmatic's CEO, David Moore, emphasizes the potential of its technology in various applications, including innovative packaging and waste management. The funding will enable Pragmatic to scale its foundry capacity and meet global demand.
John Flint of the UK Infrastructure Bank and Niranjan Sirdeshpande of M&G Catalyst Strategy highlighted the importance of this investment in supporting the UK’s transition to net-zero emissions and fostering economic growth and innovation.
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Semiconductor Manufacturing Equipment Market
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Semiconductor manufacturing equipment market faces challenges like the complexity of semiconductor chip patterns and a global shortage of skilled workers??.
The growth is driven by the demand for semiconductor parts in electric and hybrid vehicles and the widespread adoption of 5G technology??.
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