According to a new market research report from MarketsandMarkets, the Silicon on Insulator (SOI) market is expected to reach USD 1,832.5 million by 2023 from USD 686.0 million in 2018, with a CAGR of 21.7%. The increasing use of SOI wafers in advanced devices such as smartphones, tablets, earphones/headphones, and wearables is expected to boost the market for consumer electronics application. Moreover, while manufacturing thin wafers, the use of SOI technology prevents the wastage of silicon, which reduces the cost of semiconductor devices. Hence, the effective use of silicon during the manufacture of thin SOI wafers is a major factor driving the growth of the SOI market.The market for the 300-mm wafer size is expected to grow at the highest CAGR during 2018-2023. Wafer and foundry players expanding their capacity for producing 300-mm wafers is one of the driving factors for the growth of the SOI market. For instance, Soitec expanded its manufacturing capacity for the production of 300-mm SOI wafers.Among the SOI applications, the market for consumer electronics is expected to hold the largest share during 2018-2023. The growth of this market is attributed to the increasing demand for SOI products in smartphones and other consumer electronics devices. For instance, RF SOI wafers are commonly used in smart devices as these wafers enable device integration, cost-effectiveness, and high performance. Also, the growing adoption of FD SOI for consumer or IoT devices is expected to drive the growth of the market.The SOI market in APAC is expected to grow at the highest CAGR during 2018-2023. APAC is witnessing an increase in the use of SOI products owing to the presence of a large number of consumer electronic companies, smartphone manufacturers, and advanced ICT technology providers, and wafer and foundry players in APAC.Major players operating in this market are Soitec (France), Shin-Etsu Chemical (Japan), GlobalWafers (Taiwan), SUMCO (Japan), Simgui (China), GlobalFoundries (US), STMicroelectronics N.V. (Switzerland), TowerJazz (Isreal), NXP Semiconductor N.V. (Netherlands), and Murata Manufacturing (Japan).The report “Silicon on Insulator (SOI) Market by Wafer Size (200 mm and less than 200 mm, 300 mm), Wafer type (RF-SOI, FD-SOI, PD-SOI, Power SOI, Emerging-SOI), Application (Consumer Electronics, Automotive, Datacom, Industrial), Technology – Global Forecast to 2023”, is published by MarketsandMarkets.