NEW
YORK, July 2, 2024 /PRNewswire/ -- The global
semiconductor market size is estimated to grow by
USD 112.8 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 3.42% during the forecast period. Growing
adoption of IoT devices is driving market
growth, with a trend towards increasing adoption of
sustainability manufacturing. However, supply-demand gap in
semiconductor industry poses a challenge. Key market players
include Analog Devices Inc., Broadcom Inc., Infineon Technologies
AG, Intel Corp., MediaTek Inc., Microchip Technology Inc., Micron
Technology Inc., NVIDIA Corp., NXP Semiconductors NV, ON
Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp.,
Samsung Electronics Co. Ltd., Skyworks Solutions Inc., Sony Group
Corp., STMicroelectronics International N.V., Taiwan Semiconductor
Manufacturing Co. Ltd., Texas Instruments Inc., Toshiba Corp., and
Wolfspeed Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Networking
and communication, Data processing, Industrial, Consumer
electronics, and Others), Product (ICs, Optoelectronics, Discrete
semiconductors, and Sensors), and Geography (APAC, North America,
Europe, South America, and Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
Analog Devices Inc.,
Broadcom Inc., Infineon Technologies AG, Intel Corp., MediaTek
Inc., Microchip Technology Inc., Micron Technology Inc., NVIDIA
Corp., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm
Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd.,
Skyworks Solutions Inc., Sony Group Corp., STMicroelectronics
International N.V., Taiwan Semiconductor Manufacturing Co. Ltd.,
Texas Instruments Inc., Toshiba Corp., and Wolfspeed
Inc.
|
Key Market Trends Fueling Growth
The semiconductor industry requires significant energy and water
resources, with a single fabrication plant consuming approximately
1 terawatt-hour of energy annually and two-to-four million gallons
of ultra-pure water daily. The increasing demand for
semiconductors, driven by emerging technologies like 5G, AI, and
IoT, necessitates production growth. Industry leaders, such as TSMC
and Intel, are addressing sustainability concerns through water
recycling, diverse water sources, and pollution prevention. By
2030, Intel aims to conserve 60 billion gallons of water and 4
billion kWh of energy, while using 100% renewable energy. Vendors'
sustainability efforts enhance their brand image, contributing to
the global semiconductor market's growth.
The semiconductor market is experiencing significant growth with
the increasing adoption of technology in various industries. The
demand for advanced technologies such as Artificial Intelligence,
Machine Learning, and Internet of Things (IoT) is driving the
market. The automotive industry is also a major contributor, with
the integration of semiconductors in electric vehicles and
autonomous driving systems. The market is competitive with players
like Powerexpress, Mosfet, and Discreteset producing and supplying
semiconductors. The trend towards miniaturization and higher
performance is leading to the development of new technologies like
5G and SUPPLY-chain management is crucial for companies to meet the
growing demand. The semiconductor market is expected to continue
its upward trajectory in the coming years.
Research report provides comprehensive data on
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Market Challenges
- The semiconductor industry faces challenges due to high demand
for chips in sectors like IoT, AI, data centers, and smart
technologies. This demand exceeds supply, causing price increases
and longer lead times for manufacturers. Transitions to advanced
manufacturing nodes bring production challenges and yield issues,
widening the supply-demand gap. These factors may impact the
semiconductor market's growth during the forecast period.
- The semiconductor market faces several challenges in the
present scenario. The increasing complexity of semiconductor
designs calls for advanced manufacturing processes and
technologies. The cost of research and development is high, and the
competition is intense. The demand for smaller, faster, and more
energy-efficient chips is driving innovation. However, the market
is also affected by economic and geopolitical factors, such as
trade policies and supply chain disruptions. The semiconductor
industry must adapt to these challenges to remain competitive and
meet the evolving needs of consumers and businesses. The use of
automation and digitalization can help improve efficiency and
reduce costs. Collaboration and partnerships can also help share
risks and resources. The semiconductor market is dynamic and
requires continuous innovation and investment to stay ahead.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This semiconductor market report extensively covers market
segmentation by
- Application
- 1.1 Networking and communication
- 1.2 Data processing
- 1.3 Industrial
- 1.4 Consumer electronics
- 1.5 Others
- Product
- 2.1 ICs
- 2.2 Optoelectronics
- 2.3 Discrete semiconductors
- 2.4 Sensors
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Networking and communication- The
networking and communication segment is a major sector in the
global semiconductor market, driven by the increasing demand for
efficient communication solutions. This segment includes
semiconductor devices and components used in various communication
technologies and networking infrastructures. The rollout of 5G
technology and the growth of IoT devices are key factors fueling
this demand. Semiconductor solutions support high-speed data
transmission, energy efficiency, and wireless connectivity for
these applications. The increasing popularity of data-intensive
activities like video streaming and online gaming further boosts
the need for advanced semiconductor technologies. As a result, the
networking and communication segment of the semiconductor market is
expected to experience significant growth during the forecast
period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The semiconductor market is experiencing significant progress
and breakthroughs in contemporary technology, driven by the
integration of artificial intelligence (AI) and the Internet of
Things (IoT). Machine learning algorithms are being employed in
B2B, B2G, and B2C enterprises to optimize inventories, improve fab
utilization, and enhance profitability. IDC reports that the global
semiconductor market is expected to grow, fueled by the demand for
memory chips in PC sales, smartphones, communication devices, data
center chips, and various semiconductor devices. The semiconductor
industry association anticipates subsequent technologies, such as
VAT, Spring, and advanced computer chips, to further propel market
growth. Electronic components and semiconducting materials,
including transistors and diodes, continue to be essential building
blocks in this dynamic industry.
Learn and explore more about Technavio's in-depth research
reports
The global Front End of the Line Semiconductor Equipment Market
is experiencing robust growth due to the increasing demand for
advanced semiconductors in various industries. Concurrently, the
global Semiconductor IP Market is expanding, driven by the need for
efficient and cost-effective semiconductor design solutions.
Additionally, the Magneto Resistive RAM (MRAM) Market is gaining
traction as MRAM technology offers significant advantages in terms
of speed, endurance, and power efficiency. These trends highlight
the dynamic nature of the semiconductor industry, underscoring the
critical role of innovative technologies in shaping the future of
electronics.
Market Research Overview
The Semiconductor Market encompasses the design, manufacturing,
and sale of various types of semiconductor components, including
microprocessors, memory chips, sensors, and other electronic
components. These semiconductors are integral to numerous
industries, such as consumer electronics, automotive, healthcare,
and telecommunications. The market is driven by factors like
increasing demand for miniaturization, automation, and connectivity
in various sectors. Additionally, advancements in technology, such
as the Internet of Things (IoT), artificial intelligence (AI), and
5G networks, are fueling the growth of the semiconductor industry.
Semiconductors are also essential for power electronics, renewable
energy systems, and electric vehicles, further expanding the
market's scope. The semiconductor industry is characterized by
continuous innovation, intense competition, and rapid technological
advancements.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Networking And Communication
- Data Processing
- Industrial
- Consumer Electronics
- Others
- Product
-
- ICs
- Optoelectronics
- Discrete Semiconductors
- Sensors
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio