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Semiconductor Market Size, Share, and Analysis, By Component (Logic Devices, Memory Devices, MPU, Analog IC, Sensors, Discrete Power Devices, MCU, and Others), By Semiconductors Materials (Packaging, Fabrication), By Semiconductor Devices (Optoelectronics, Discrete Semiconductors, Sensors, Integrated Circuits), By Node Size (5nm, 7/5nm, 10/7nm, 16/14nm, 22/20nm, 32/28nm, 45/40nm, 65nm, 90nm, 130nm, 180nm), By Material Type (Silicon, Silicon carbide, Gallium Nitride, Gallium arsenide, Germanium), By Application (Consumer Electronics, Networking & Communications, Defence and Military, Data Processing, Industrial, Automotive, Telecommunication and Government, Others), By Type (Intrinsic Material, Extrinsic Material) and Regional Forecasts, 2022-2032
Semiconductor market size was USD 504.05 billion in 2021 and projected to grow from USD 591.9 billion in 2023 to USD 1234.4 billion by 2032, exhibiting a CAGR of 8.5% during the forecast period.
Semiconductor is a material having certain electrical properties which allow it to act as a base for few electronic devices like computers. It is generally a compound or solid chemical substance which transmits electricity in few situations and it makes it an essential medium to regulate the electrical current in electrical devices used at home. Semiconductors like memory chips are important and are required for several operations owing to the increasing advancements in technologies.
Semiconductor Market is expected to reach USD 1234.4 billion, growing at a CAGR of 8.5% during forecast period owing to the technological advancements like development of artificial intelligence (AI), acquiring of internet of things (IoT) has created several growth opportunities for the semiconductors market. Semiconductors are utilized to boost technologies that enhance ease to consumers by improving the businesses to run early, effectively and smarter.
Semiconductor Market is classified based on the Component into Logic Devices, Memory Devices, MPU, Analog IC, Sensors, Discrete Power Devices, MCU, and Others. Memory Devices segment is expected to dominate the market in the forecast period owing to several advancements in technology like cloud computing, virtual reality etc. The high price of few chips like NAND flash and DRAM are expected boost the growth of the market. The high demand for the memory devices is also expected to boost the growth of the market.
Semiconductor Market is classified based on the Application into Consumer Electronics, Networking & Communications, Defence and Military, Data Processing, Industrial, Automotive, Telecommunication and Government, Others. Networking & Communications segment is expected to dominate the market in forecast period owing to the high demand for smartphones and smart devices which include the necessity of network and communication. The need of remote working has increased creating demand for the growth of the segment in Semiconductor market.
Growing Usage of Electronic Device is Expected to Boost the Growth of the Market
The acceptance and usage of electronics devices has increased globally. The innovation of artificial intelligence (AI), machine learning (ML) and Internet of Things (IoT) had positive impact on the growth of the market and assist memory chips in operating huge volume of data in minimal duration. The growing requirement for rapid and modern memory chips is expected to boost the growth of the Semiconductor market during the forecast period. Several advancements included with wirelessly communication with devices dominating the market growth. System on a Chip (SoC) permit devices to control with advanced security and high-power efficiency.
Incresing Demand for Integrated Circuits is Expected to Boost Market Growth
A well-established production and assembling plants of smartphone and home essential electrical devices manufacturing are anticipated to drive the growth of the market. The increasing number of device manufacturers globally and rising investments in research and development are expected to drive market growth. Increasing population with disposable incomes and urbanization are resulting in creating demand for electronics devices thereby boosting the growth of Semiconductor Market.
Tariff Charges Applied May Restrain the Growth of the Market
The imposition of trade restrictions with countries like china and the tariff charges applicable on all the industrial goods and materials embedded with chips are expected to restrict the growth of the semiconductors market.
Semiconductor Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific dominated the market in 2021 and is expected to continue its dominance over the forecast period owing to the growing adoption of advanced technology-based devices, with low prices resulting in increased purchase thereby having positive impact on the growth of the market. The advancements in technology is expected to boost the growth of semiconductor market in the forecast period.
The COVID-19 outbreak had resulted in the downfall of economies globally. Several countries had imposed lockdowns and applied travel restrictions to control the spread of the virus. The shutdown of industrial areas, restrictions applied on transportation of material and lack of skilled labour had negative impact on the growth of market. Increased remote working during the pandemic had resulted in creating deman for electronic devices and networking & communication. Covid-19 had slight impact on the growth of the Semiconductor Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2021-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 8.5% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Component |
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Semiconductors Materials |
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Semiconductor Devices |
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Node Size |
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Material Type |
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Application |
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Type |
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By Region |
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Semiconductor Market size was estimated at USD 504.05 billion in 2021 and is expected to reach USD 1234.4 billion in 2032.
Semiconductor is a material having certain electrical properties which allow it to act as a base for few electronic devices like computers. It is generally a compound or solid chemical substance which transmits electricity in few situations and it makes it an essential medium to regulate the electrical current in electrical devices used at home.
Memory Devices and Networking & Communications segment accounted for the largest Semiconductor market share.
Key players: Qualcomm, NXP Semiconductors N.V., Intel Corporation, Micron Technology, Broadcom, Inc., Samsung Electronics, SK Hynix, Toshiba Corporation, Taiwan Semiconductors, Texas Instruments, NVIDIA Corporation and Other Prominent Players are the key players in the Semiconductor Market.
Growing Usage of Electronic Device and Growing Demand for Integrated Circuits are the factors driving the Semiconductor market.
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