Semiconductor Market to Reach USD 730.29 billion by 2026; Growing Adoption of Electronics to Augment Growth, states Fortune Business Insights™
Pune, March 02, 2020 (GLOBE NEWSWIRE) — The global Semiconductor Market is projected to reach USD 730.29 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period. The increasing utilization and consumption of consumer electronic devices will fuel demand for semiconductors during the forecast period. Furthermore, the rising demand for advanced semiconductor chips in the industrial application will contribute positively to the semiconductor market growth in the forthcoming years. In addition, the penetration of smartphones will fuel demand for semiconductors, which in turn will boost the semiconductor market revenue.According to the report, published by Fortune Business Insights, titled “Semiconductor Market Size, Share & Industry Analysis, By Components (Memory Devices, Logic Devices, Analog IC, MPU, Discrete Power Devices, MCU, Sensors and Others), By Application (Networking & Communications, Data Processing, Industrial, Consumer Electronics, Automotive, Government and Others) and Regional Forecast, 2019-2026” the market size stood at USD 488.07 billion in 2018.
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The report is aimed at delivering a comprehensive view of the semiconductor market dynamics and structure by identifying and providing information regarding the key market segments. It also focuses on an all-encompassing analysis of leading market players by financial position, product, product portfolio, price, growth strategies, and regional presence. It offers PORTER’s analysis and SWOT analysis to record the question of shareholders and highlights the investment potential in the upcoming future. It also showcases different procedures and strategies of companies currently operating in the semiconductor market. It further examines the components, convincing market expansion, growth patterns, restricting factors, and market strategies.Rising Application of Semiconductors in Automotive to Stimulate MarketThe automotive segment is expected to hold the lion’s share during the forecast period. The growth of the segment is attributed to the penetration of electric and hybrid cars. The rising demand for semiconductors for the production of conventional cars will also boost the semiconductor market share in the forthcoming years. Furthermore, the industrial application segment is likely to account for maximum share in the market owing to the increasing implementation of Industry 4.0, IoT, artificial intelligence and big data. The implementation of these technologies will improve the manufacturing process and therefore create lucrative business opportunities for the market in the foreseeable future. Moreover, the surge in the use of smartphones and the introduction of 5G technology will have a positive impact on the semiconductor market trends during the forecast period.
Growing Adoption of Electronics to Enable Speedy Growth in Asia PacificAsia Pacific generated a revenue of USD 264.14 billion in 2018 and is expected to grow rapidly during the forecast period owing to the growing consumption and adoption of electronic devices. Moreover, the increasing use of IoT and LTE is expected to create new opportunities for the market in Asia Pacific in the forthcoming years. North America is predicted to witness high demand for semiconductors during the forecast period. The growth in the region is attributed to increasing R&D investments in the semiconductor. According to the Semiconductor Industry Association, the U.S. semiconductor industry expenditures in R&D increased at a compound annual growth rate of about 7.3 percent from 1998 to 2018. Moreover, Europe is predicted to grow substantially during the forecast period owing to the increasing application of semiconductors in telecom & network, as well as the automotive industry. The growing investment by key players in the innovation and advancement of semiconductors to cater to the increasing demand from various industries will aid the expansion of the semiconductor market in Europe. In addition, the rising utilization of electronic goods across various countries such as the UK, France, and Germany will also support the growth of the market in Europe.Some of the Major Companies Operating in the Semiconductor Market Include:Broadcom, Inc.
Samsung ElectronicsSK HynixTaiwan SemiconductorsTexas InstrumentsToshiba CorporationMaxim Integrated Products, Inc.Micron TechnologyNVIDIA CorporationNXP Semiconductors N.V.
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Table of Content:IntroductionDefinition, By SegmentResearch ApproachSourcesExecutive SummaryMarket DynamicsDrivers, Restraints and OpportunitiesEmerging TrendsKey InsightsMacro and Micro Economic IndicatorsConsolidated SWOT Analysis of Key PlayersPorter’s Five Forces AnalysisGlobal Semiconductor Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Sizing Estimations and Forecasts – By Component (Value)Memory DevicesLogic DevicesAnalog ICMPUDiscrete Power DevicesMCUSensorsOthers (DSP, etc.)Market Sizing Estimations and Forecasts – By Application (Value)Networking & CommunicationsData ProcessingIndustrialConsumer ElectronicsAutomotiveGovernmentMarket Analysis, Insights and Forecast – By Region (Value)North AmericaEuropeAsia PacificMiddle East & AfricaLatin AmericaContinued..!!!
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