Semiconductor Market Valuation to Reach USD 1,307.7 Billion – GlobeNewswire
| Source: Market.Us
New York, Jan. 08, 2024 (GLOBE NEWSWIRE) — According to Market.us, The global semiconductor market size is poised for significant growth, reaching USD 673.1 Billion in 2024. The sales are expected to witness a robust CAGR of 8.8% from 2023 to 2032. By 2032, the semiconductor demand is anticipated to reach a valuation of USD 1,307.7 Billion.
Semiconductors are electronic components that play a fundamental role in modern technology. They are made from materials with intermediate electrical conductivity, allowing them to control and amplify electrical signals. Semiconductors serve as the building blocks of integrated circuits (ICs) and are vital for the functioning of various electronic devices, ranging from smartphones and computers to industrial machinery and automobiles.
In recent years, the semiconductor industry has witnessed substantial growth, a trend attributable to increasing demand for electronics, advancements in technology, and the widespread adoption of Internet of Things (IoT) devices. The surge in remote work and learning during the pandemic also catalyzed an uptick in demand for semiconductors, fueling further market expansion.
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Key Statistics
Factors Affecting the Growth of the Semiconductor Market
The global semiconductor market has experienced massive growth in recent years and is expected to continue expanding significantly in the future. There are several factors that are driving the growth of this market:
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For instance,
Top Trends in the Global Semiconductor Market
Regional Analysis
In 2023, APAC held a dominant market position in the semiconductor market, capturing more than a 51.5% share. This substantial lead is largely attributed to the significant manufacturing and technological advancements found in countries like South Korea, China, and Taiwan. The region benefits from robust electronics production, a skilled workforce, and substantial investments in research and development.
North America also plays a critical role, particularly in semiconductor design and innovation, with the United States being home to major players and cutting-edge research institutions. Europe, while holding a smaller market share, is focusing on specialized semiconductor applications in automotive and industrial sectors, emphasizing quality and precision.
Latin America, although an emerging player, is witnessing growth in consumer electronics and automotive sectors, contributing to a gradual increase in semiconductor demand. Lastly, the Middle East and Africa are steadily making their mark, with investments in technology infrastructure and smart city projects driving the need for advanced semiconductors. Each region’s unique market dynamics, from APAC’s manufacturing stronghold to Europe’s specialized applications, together shape the global landscape of the semiconductor industry.
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Things to know
Competitive Landscape
The competitive landscape of the Market has also been examined in this report. Some of the major players include:
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Report Segmentation of the Semiconductor Market
By Component Analysis
In 2023, the MPU (Microprocessor Unit) and MCU (Microcontroller Unit) segment held a dominant market position, capturing more than a 34% share of the semiconductor market. This substantial portion underscores the pivotal role these components play in a wide array of technological applications, from consumer electronics to automotive systems. The MPU, essentially the brain of computers and similar devices, has witnessed significant demand due to the surge in smart device usage and complex computing needs. Similarly, MCUs, which find extensive applications in embedded systems, have seen an uptick in demand driven by the growth of the Internet of Things (IoT) and automation technologies.
By Source
In 2023, the Silicon segment held a dominant market position in the semiconductor market, capturing more than a 46.5% share. This prominence is attributed to silicon’s widespread availability, cost-effectiveness, and well-understood properties, making it the standard material in semiconductor manufacturing. Its versatile nature allows for a wide range of applications, from microprocessors and memory devices to solar cells, underlining its crucial role in the modern technology landscape.
By Node Size
In 2023, the 16/14nm segment held a dominant market position in the semiconductor market, capturing more than a 28.0% share. This node size, representing a middle ground in the balance between performance, cost, and power efficiency, has become particularly popular for a wide range of applications, including mainstream consumer electronics and some high-performance computing systems. Its widespread adoption is driven by its ability to offer a significant improvement over older, larger nodes while still being relatively cost-effective compared to the cutting-edge smaller nodes.
Application Analysis
In 2023, the Telecommunication segment held a dominant market position in the semiconductor market, capturing more than a 37.0% share. This significant portion is indicative of the critical role semiconductors play in facilitating global communication networks. From smartphones to satellite communications, the demand for advanced semiconductor solutions in this sector is driven by the ongoing need for faster data transmission, increased connectivity, and the expansion of 5G networks. The continuous innovation in this field underscores the segment’s importance in an increasingly connected world.
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Market Segments
By Component Analysis
By Source
By Node Size
By Application
Key Regions and Countries Covered in this Report:
Recent Developments
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