The Semiconductor Market size is estimated to reach $990 billion by 2030, growing at a CAGR of 7.1% during the forecast period 2023-2030, according to a recent report published by IndustryARC. The growth of the Semiconductor Market is fueled by the increasing predominance of AI and IoT in particular. This has sparked a new wave of semiconductor innovation. Manufacturers of semiconductor chips are constantly working on fulfilling the needs of both AI and IoT, which is likely to propel the Semiconductor market trends and demand.
Read the full report here - Semiconductor Market By Type (Intrinsic material and Extrinsic material), By Component (Memory devices, Logic Devices, Analog IC, memory protection unit (MPU), Discrete Power Device, Multipoint control unit (MCU), Sensors, and Others), By Node size (180nm, 130nm, 90nm, 65nm, 45/40nm, 32/28nm, 22/20nm, 16/14nm, 10/7nm, 7/5nm, and 5nm), By Material Type (Silicon, Germanium, Gallium arsenide, Silicon carbide, Gallium Nitride, Others), By application (Networking and Communication, Data Processing, Consumer Electronics, Power Generation, Electronic Components and Others ), By End use (Telecommunication, Energy, Electrical and Electronics, Medical and Healthcare, Automotive, Defence & Aerospace, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030.
Asia-Pacific Accounted for Significant Market Share in 2022:
Asia-Pacific dominated the Semiconductor market with a 45.4% share of the overall market in 2022. According to India Briefing, the government invested US$10 billion in semiconductor and display manufacturing in the country in 2021 in order to attract large chip makers and establish India as a global hi-tech production hub. Such government initiatives and rising demand in the region are set to drive Semiconductor market growth.
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Semiconductor Market Growth Drivers:
The Growing Penetration of the Digital Technologies and Adoption of Various Consumer Electronics:
AI has advanced rapidly since its inception. Semiconductor and AI technology have reached peak levels in providing profitability to users. Since integrated circuits, processors and improved sensors are based on semiconductor technology, their demand is set to rise as a result of the expansions. According to Semiconductor Equipment and Materials International (SEMI), original equipment manufacturer sales of total semiconductor manufacturing equipment are expected to reach a new high of $108 billion in 2022, up by 5.9% from the previous industry record of $102 billion in 2021. Furthermore, with the rise of smartphones, IoT naturally aligns with semiconductor innovation.
The Extensive Usage of Semiconductors in A Wide Range of End-use Applications:
The increased use of semiconductors in various end-use industries such as telecommunication, consumer appliances and others is expected to drive demand for the semiconductor market. The use of semiconductor devices in telecommunication technology marked the beginning of the modern era of telecommunication. The transistor technology aided in the development of existing technologies ranging from narrow broadband to private packet-switched networks. Another technology achieved with the help of semiconductor technology is the 5G network, which can transfer large amounts of data 100-200X faster than 4G LTE. However, various Internet of Things infrastructure components such as processors, modems and logic chips aided in increasing memory output and performance. As a result, the use of semiconductor devices in telecommunications is expected to boost semiconductor market share during the forecast period.
Scope of Report:
- In December 2022, Mitsubishi Electric Corporation launched its new SLIMDIP-Z power semiconductor module, featuring an extra-high 30A rated current for use in inverter systems of home appliances.
- In December 2021, Taiwan Semiconductor Manufacturing Company and Sony collaborated and announced that they would invest US$7 billion to establish a semiconductor fabrication facility in Japan.
Semiconductor Market: Competitive Landscape
Key companies profiled in the Semiconductor Market report are Qualcomm Technologies, Inc., Broadcom, Inc., Intel Corporation, Samsung Electronics, Taiwan Semiconductors, NXP Semiconductors, SK Hynix, Texas Instruments, Micron Technology and Maxim Integrated Products, Inc.
Mr. Venkat Reddy
Email: [email protected]