New York, United States , April 16, 2024 (GLOBE NEWSWIRE) -- The Global Semiconductors Market Size to Grow from USD 611.56 Billion in 2023 to USD 1123.44 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.27% during the forecast period.
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A semiconductor is a substance with specific electrical characteristics which allow it to serve as the foundation for technological and other electronic devices. It is usually a solid chemical element or compound that conducts electricity in some conditions but not in others. For instance, Tata Electronics begins construction on India's first semiconductor manufacturing facility. The Indian government approved Tata Electronics' Rs. 91,000 crores bid to build the semiconductor fab in February 2024, following an invitation for proposals to launch a Make in India semiconductor ecosystem. China is expected to experience high demand for mobile chips as a result of the establishment of manufacturing and assembly plants by several well-known smartphone manufacturers, including Apple and OnePlus.The use of semiconductors in healthcare is expected to grow as electronic medical devices including blood pressure gauges, at-home clinical therapy and diagnostics, and others gain popularity. Advanced medical devices and equipment, such as MRI machines, CT scanners, and X-ray machines, rely heavily on semiconductor components to operate. Semiconductors are necessary for the processing and imaging capabilities, as well as the proper operation of these complex machines. However, After China's leadership changed in 2018, the US started imposing trade restrictions on the country. If the restrictions continue, China's market share is expected to fall by around 16%. As a result, increased conflicts with China are expected to reduce the dominance of the US semiconductor market, shifting the focus to Asia Pacific during forecast period.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Semiconductors Market Size, Share, and COVID-19 Impact Analysis, By Component (Memory Devices, Logic Devices, Analog IC, MPU, Discrete Power Devices, MCU, Sensors, Others), By Application (Networking & Communications, Data Processing), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The memory devices segment dominates the market with the largest revenue share over the anticipation timeframe.
On the basis of component, the global semiconductors market is segmented into memory devices, logic devices, analog IC, MPU, discrete power devices, MCU, sensors, and others. Among these, the memory devices segment is dominating the market with the largest revenue share over the anticipation timeframe. The need for memory devices is growing daily as advances in technology like cloud computing and virtual reality are developed, and these devices are becoming more and more integrated with users' other devices.
The networking & communications segment is witnessing significant CAGR growth over the anticipation timeframe.
On the basis of the application, the global semiconductors market is segmented into networking & communications, and data processing. Among these, the networking & communications segment is witnessing significant growth over the anticipation timeframe. Consumer electronics, particularly gaming, have advanced to the point where semiconductors are now absolutely required. The automobile industry is another expanding sector. a combination of several electric cars leading the automobile industry in recent years, their reliance on electronic components has become unchangeable, and it will remain so until cheaper alternatives are found in the global electronic components market.
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Asia Pacific dominates the market with the largest market share over the anticipation timeframe.
Asia Pacific is dominating the market with the largest market share over the anticipation timeframe. These local market players typically provide a diverse range of products at discounted bulk prices. As a result, market growth in China will accelerate during the forecast period. As the region's developing countries adopt high-tech consumer goods, demand for semiconductors has recently increased. Technological advancements such as IoT and LTE are expected to further boost the global semiconductors market in this region. China dominates the global semiconductor market, which is expected to grow moderately during the forecast period.
North America is expected to grow the fastest during the anticipation timeframe. Increased funding for R&D activities. According to the Semiconductor Industry Association (SIA), R&D expenditures in the U.S. industry increased at a compound annual growth rate of approximately 6.6% from 1999 to 2019. US companies consistently spend heavily on R&D activities, regardless of annual sales cycles, demonstrating the importance of investing in R&D production. In 2019, R&D investments totaled USD 39.8 billion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major market key players in the Global Semiconductors Market are Micron Technology, Inc., SK Hynix Inc., NXP Semiconductors N.V., Intel Corporation, Samsung Electronics Co., Ltd., Analog Devices, Inc., ON Semiconductor Corporation, Renesas Electronics Corporation, Taiwan Semiconductor Manufacturing Company Limited (TSMC), STMicroelectronics N.V., Infineon Technologies AG, Advanced Micro Devices, Inc., MediaTek Inc., NVIDIA Corporation, Xilinx, Inc., Sony Corporation, Qualcomm Incorporated, Broadcom, Inc., Texas Instruments, and Others.
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Key Market Developments
- In January 2024, Foxconn Technology Group and HCL Group are forming a joint venture (JV) to establish a semiconductor outsourced assembly and testing (OSAT) facility in India. Foxconn plans to invest $37.2 million, acquiring a 40% stake in the venture, according to Mint and The Economic Times. The move aims to establish an OSAT facility to benefit India's semiconductor industry and improve supply chain resilience.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Semiconductors Market based on the below-mentioned segments:
Semiconductors Market, Component Analysis
- Memory Devices
- Logic Devices
- Analog IC
- MPU
- Discrete Power Devices
- MCU
- Sensors
- Others
Semiconductors Market, Application Analysis
- Networking & Communications
- Data Processing
Semiconductors Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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