With 9.2% CAGR, Semiconductor Market Size worth USD 893.10 Billion in 2029
According to Fortune Business Insights, the global semiconductor market size is projected to reach USD 893.10 billion in 2029, at CAGR of 9.2% during forecast period; Increasing Consumption of Consumer Electronics & Integration of AI to Aid Growth
Pune, India, May 02, 2022 (GLOBE NEWSWIRE) — The global semiconductor market size was USD 452.25 billion in 2021. The market is projected to grow from USD 483.00 billion in 2022 to USD 893.10 billion in 2029 at a CAGR of 9.2% during the 2022-2029 period. This vital information is presented by Fortune Business Insights™, in its report titled, “Semiconductor Market Share, 2022-2029.” 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
- August 2020: 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
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 9.2% |
| 2029 Value Projection | USD 893.10 billion |
| Base Year | 2021 |
| semiconductor market Size in 2021 | USD 452.25 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 120 |
| Segments covered | By Component; By Application
|
| semiconductor market Growth Drivers | Rising Consumption of Consumer Electronics Goods to Aid Growth |
| Increasing Demand for Integrated Circuits in Developing Economies to Boost Market Growth |
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.
COVID-19 Impact
Disruptions in Supply Chain & Production Delays to Hamper Market During Forecast
The COVID-19 pandemic has forced various business practices across the world toward an economic backlash. Imposed lockdowns and restrictions on people’s movement decreased the value of the market to a fair extent. Additionally, the trade war between the U.S. and China drained the share of the market to an exceptional low. Manufacturing plants had to be shut off and several functioned at less-than-optimal capacity, which further created a vacuum in the demand-supply chain. Disruptions in the transport sector further caused big projects to be pushed towards a later deadline.
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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.
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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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.
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.
Companies Profiled in the Semiconductor Market Share 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)
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Major Points of Table:
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- 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)
- Global Semiconductor Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
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