New York, USA, May 26, 2023 (GLOBE NEWSWIRE) --
According to the research report published by Market Research Future (MRFR), the Semiconductor Micro Components Market is projected to grow from USD 134.53 billion in 2023 to USD 155.32 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 1.89% during the forecast period (2023 - 2032).
Semiconductor Micro Components Market Scope:
A micro semiconductor, also known as a semiconductor device, is a tiny electronic component made of semiconductor material, such as silicon, germanium, or gallium arsenide. Consumer electronics, communication systems, and industrial applications all frequently employ them.
Semiconductor Micro Components Market Competitive Landscape:
The important companies active in the semiconductor micro components market are
- Renesas Electronics Corporation
- Taiwan Semiconductor Manufacturing Company
- Broadcom Inc.
- Qualcomm Technologies Inc.
- Intel Corporation
- STMicroelectronics N.V
- Micron Technology Inc.
- Texas Instruments Incorporated
- Toshiba Corporation
- Cypress Semiconductor Corporation
- NXP Semiconductors N.V.
- Infineon Technologies AG
- ON Semiconductor
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Semiconductor Micro Components Market Drivers:
Rapid population growth, rising household disposable income, and increased urbanization all contribute to the enormous demand for both basic and cutting-edge consumer electronics products. For effective and suitable operation, integrated circuit (IC) chips are found in a variety of electronic gadgets, including cell phones, washing machines, TVs, and refrigerators. To meet the growing customer demand for cutting-edge devices and promote the market's expansion, a number of top consumer electronics companies, including Samsung, Apple, and Huawei, are investing heavily in the development of new products.
Due to the existing manufacturing and assembly facilities of numerous well-known smartphone manufacturers, like Apple and OnePlus, China is predicted to experience considerable demand for mobile CPUs. The number of Taiwanese personal computer manufacturers and their growing investments in the field of research and development further show that Taiwan's industry is seeing tremendous expansion. Additionally, the nation is renowned for producing integrated circuits that are small in size and driven by cutting-edge technology, offering the market lucrative growth opportunities.
Scope of the Report – Semiconductor Micro Components Market:
| Report Metrics | Details |
| Market Size by 2032 | USD 155.32 billion |
| CAGR during 2023-2032 | 1.89% |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Key Market Opportunities | Increasing focus on Artificial Intelligence (AI) technology |
| Key Market Dynamics | Growing demand for miniaturization of electronic devices |
Semiconductor Micro Components Market Restraints:
Because they are so tiny, miniature semiconductor devices must be handled manually or mechanically. The demand for small DSPs has increased as a result of technological advancements, the emergence of compact devices like smartphones and tablets, and wearable technology like smartwatches. To satisfy consumer demand, manufacturers must consequently continuously update their goods with more cutting-edge and portable DSPs. This compels market players to make significant investments in the acquisition of pricey machinery in order to develop sophisticated systems. In order to develop these sophisticated systems, vendors must likewise increase their budgets. Due to the quick development of technology, manufacturers of intelligent systems are being forced to increase their investments, which may reduce their profitability. Therefore, during the conjectured period, these factors can leave a negative impact on market growth.
COVID 19 Analysis:
Since the start of COVID-19 in early 2020, the industry has encountered a number of difficulties in sustaining steady growth. The U.S.-China trade war and 2019's economic downturn are helping the whole technology sector to rebound. The worldwide semiconductor sector is expected to experience a revenue reduction of about 6% in 2020 (with a 54% likelihood), according to the International Data Corporation (IDC).
The abrupt COVID-19 epidemic in Wuhan, China, commonly known as the "motor city," which is home to auto facilities for General Motors, Honda, Nissan, Peugeot Group (PSA), Renault, and Toyota, has negatively impacted Asian automotive output. The export of automotive parts from China to other automakers in the European Union (EU) is expected to decline by 2%, according to estimates from the United Nations Conference on Trade and Development (UNCTAD). Similarly, the United States, South Korea, Japan, and many other countries might result in a 7 billion USD decrease in car exports from these economies to the rest of the world.
On the other hand, the increasing demand for work-from-home opportunities has significantly increased networking, communication, and data processing applications globally, which will eventually contribute to a moderate expansion of the semiconductor market.
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Semiconductor Micro Components Market Segmentation:
By Product Type
The market can be divided into microchip, micro controller, micro-processor, ASIC, and other goods based on product type. With more than 40.00% of the market share for semiconductor micro components, the microchip segment is the largest. A semiconductor circuit known as a microchip has millions of transistors and other parts. These parts are employed in a number of processes, including signal processing, data transfer, and voltage regulation.
Semiconductor Micro Components Market Regional Insights
In terms of value, the semiconductor micro components market is dominated by APAC. The market in this area is being driven by the existence of numerous well-known semiconductor foundries, including Taiwan Semiconductor Manufacturing, United Microelectronics, Samsung, and Semiconductor Manufacturing International. These businesses are making significant investments in the region to construct new factories. For instance, Qualcomm Technologies, LG Uplus, and LG Electronics successfully launched their 5G mm-wave network in South Korea in December 2020 at the Kumoh National Institute of Technology (KIT) utilizing commercial 5G devices. In addition, APAC's revenue share is anticipated to increase more quickly than that of other areas due to cheaper labor costs, a sizable market, and flexible government regulations.
The market's expansion was hampered in 2020 by the COVID-19 pandemic. Most significantly, a number of semiconductor micro component manufacturing facilities had to close in order to stop the disease's spread, severely hurting the Chinese market. However, a significant vaccination drive and the restart of the supply chain for semiconductor micro components in 2021 have helped the market grow again. The demand for semiconductor micro components surged when activities resumed in end-use industries like the automotive. During the forecast period, it is anticipated that the market will reach its pre-pandemic levels. Moreover, during the forecast period, the market will experience growth driven by vendors' digitization of business operations, the introduction of technologically advanced products, and the emergence of Industry 4.0.
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