Pune,India, April 05, 2023 (GLOBE NEWSWIRE) -- The semiconductor market size is projected to grow from USD 573.44 billion in 2022 to USD 1,380.79 billion in 2029 at a CAGR of 12.2% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Semiconductor Market Forecast, 2023-2029.” As per The global market size was USD 527.88 billion in 2021.Factors such as the rising consumption of consumer electronics and the emerging usage of Artificial Intelligence (AI) will boost the growth of the market during the forecast period. Additionally, increasing demand for faster and advanced memory chips will increase the footprint of the market.
Key Industry Development-
SK Hynix launched the world’s first 128-layer NAND Consumer PCIe NVMe SSD toward its product line. This move is expected to increase the firm’s presence in the U.S.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 12.2% |
| 2029 Value Projection | USD 1,380.79 Billion |
| Base Year | 2021 |
| Semiconductor Market Size in 2021 | USD 527.88 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 120 |
| Segments covered | Component, Application, Region |
Key Takeaways-
- Semiconductor Market is expected to flourish & reach USD 1,380.79 Billion in 2029
- provides multi-chip packages with high capacity RAM and AI-trained embedded or mobile devices for use at the periphery and in the cloud.
- Additionally, the nation is renowned for producing integrated circuits that are small in size and powered by cutting-edge technology, offering the market lucrative development opportunities.
- The necessity of working from home is notably rising across developed and developing economies, thus enhancing the demand across this application segment.
- Semiconductor Market Size in Asia Pacific was USD 289.92 Billion 2021
Drivers & Restraints-
- Increasing Consumption of Consumer Electronics & Rising Demand for ICs to Augment Growth
- Factors such as rising consumption of consumer electronics, increasing disposable income, and rapidly growing population will boost the semiconductor market growth during the forecast period.
- Additionally, rising urbanization & rising products by industry leaders will increase the footprint of the market.
- Also, rising demand for Integrated Circuits (ICs) and rising technological advancements will fuel the growth of the market.
- However, shifting global trade practices are expected to hamper the growth of the market during the forecast period. Also, tariff disruptions will limit the growth of the market.
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Regional Insights-
Asia Pacific to Hold Dominance due to Rising Adoption of High-End Technology
Asia Pacific will witness the largest semiconductor market share during the forecast period due to increased adoption of technology and decreasing minimum electronic prices. Additionally, rising technological advancements and integration of the Internet of Things (IoT) and LTE will further fuel the growth of the market. Also, the presence of key market players in the region will increase the footprint of the market.
North America will occupy a considerable market share in terms of global contribution, owing to rising R&D activities and increasing expenditure.
Europe will witness moderate growth during the forecast period due to the expanding telecom & automotive industry along with rising investment opportunities. Additionally, rising demand for advanced devices & components combined with rising electronic consumption will drive the market.
Report Coverage-
The Semiconductor Market report encompasses an in-depth analysis of the market by integrating critical market trends such as drivers, opportunities, threats, and restraints. An overview of the global aspect of the market is also provided along with regional analysis. Segments and subsegments of the market are also explained. Additionally, factors that are expected to affect the market in a positive/negative manner are also mentioned.
Segments-
Based on component, the market can be broken down into memory devices, logic devices, analog IC, MPU, discrete power devices, MCU, sensors, and others.
By application, the market is divided into networking & communications, data processing, industrial, consumer electronics, automotive, and government.
With respect to geography, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
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Competitive Landscape-
Product Development & Rising R&D Activities to Push Dominant Players Toward Higher Value
The semiconductor industry is highly fragmented due to the presence of many players. Dominant players are aiming to compete for a higher market share by introducing novel products to their portfolios. Additionally, increased spending towards R&D activities will ensure that consumers are being constantly introduced to the latest generation of products. For example, in July 2020, AP Memory Technology Corporation announced its partnership with NXP Semiconductors under their NXP Connect Partner Program. Others are focused on employing strategic tactics such as mergers & acquisitions and collaborations in order to ramp up revenue sources.
List of Key Players Mentioned in the Report-
- Broadcom, Inc. (U.S.)
- Intel Corporation (U.S.)
- Qualcomm (U.S.)
- Samsung Electronics (South Korea)
- SK Hynix (South Korea)
- Taiwan Semiconductors (Taiwan)
- Texas Instruments (U.S.)
- Toshiba Corporation (Japan)
- Maxim Integrated Products, Inc. (U.S.)
- Micron Technology (U.S.)
- NVIDIA Corporation (U.S.)
- NXP Semiconductors N.V. (Netherlands)
Major Table of Contents-
- Global Semiconductor Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- By Components (USD Bn)
- Memory Devices
- Logic Devices
- Analog IC
- MPU
- Discrete Power Devices
- MCU
- Sensors
- Others (DSP, etc.)
- By Application (USD Bn)
- Networking & Communications
- Data Processing
- Industrial
- Consumer Electronics
- Automotive
- Government
- By Region (USD Bn)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Components (USD Bn)
- North America Semiconductor Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- By Components (USD Bn)
- Memory Devices
- Logic Devices
- Analog IC
- MPU
- Discrete Power Devices
- MCU
- Sensors
- Others (DSP, etc.)
- By Application (USD Bn)
- Networking & Communications
- Data Processing
- Industrial
- Consumer Electronics
- Automotive
- Government
- By Country (USD Bn)
- United States
- By Application (USD Bn)
- Networking & Communications
- Data Processing
- Industrial
- Consumer Electronics
- Automotive
- Government
- By Application (USD Bn)
- Canada
- By Application (USD Bn)
- Networking & Communications
- Data Processing
- Industrial
- Consumer Electronics
- Automotive
- Government
- By Application (USD Bn)
- United States
- By Components (USD Bn)
- Europe Semiconductor Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- By Components (USD Bn)
- Memory Devices
- Logic Devices
- Analog IC
- MPU
- Discrete Power Devices
- MCU
- Sensors
- Others (DSP, etc.)
- By Application (USD Bn)
- Networking & Communications
- Data Processing
- Industrial
- Consumer Electronics
- Automotive
- Government
- By Country (USD Bn)
- UK
- By Application (USD Bn)
- Networking & Communications
- Data Processing
- Industrial
- Consumer Electronics
- Automotive
- Government
- By Application (USD Bn)
- Germany
- By Application (USD Bn)
- Networking & Communications
- Data Processing
- Industrial
- Consumer Electronics
- Automotive
- Government
- By Application (USD Bn)
- France
- By Application (USD Bn)
- Networking & Communications
- Data Processing
- Industrial
- Consumer Electronics
- Automotive
- Government
- By Application (USD Bn)
- Italy
- By Application (USD Bn)
- Networking & Communications
- Data Processing
- Industrial
- Consumer Electronics
- Automotive
- Government
- Rest of Europe
- UK
- By Components (USD Bn)
TOC Continued…!
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FAQ:
How big is the Semiconductor Market?
The global semiconductor market size was USD 527.88 billion in 2021 and is projected to grow from USD 573.44 billion in 2022 to USD 1,380.79 billion in 2029, exhibiting a CAGR of 12.2% during the forecast period.
How big is Semiconductor Market in Asia Pacific?
The market in Asia Pacific stood at USD 289.92 Billion in 2021 and is expected to gain a huge portion of the market share in the coming years.
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