Semiconductors Market Size to Hit USD 808.5 Billion by 2030
The semiconductor market size is expected to hit USD 808.5 billion by 2030 from at USD 430 billion in 2021 and is expanding growth at a noteworthy CAGR of 6.6% from 2021 to 2030.
Tokyo, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Precedence Research, Recently Announced Report on “Semiconductor Market - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2021 to 2030”.
The global semiconductors market is primarily driven by the rising demand for the consumer electronics, industrial tools & equipment, automotive products, and networking and communication products. The rapid advancements in the technologies in the consumer electronics such as smartphones, laptops, air conditioners, and various other range of products had rapidly boosted the consumption of electronics across the globe, which fueled the growth of the semiconductors market.
Moreover, the growing popularity of the latest technologies such as Iot, artificial intelligence, and virtual reality is expected to exponentially augment the demand for the semiconductors across the globe. Moreover, the rising demand from the automotive industry for the manufacturing of electric vehicles is driving the market. The semiconductor market is expected to grow substantially owing to the rising investment by the market players to expand the production facilities to tackle the excess demand for the semiconductors across various industries.
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However, the on-going shortages of the semiconductors across the globe are resulting in the production shortfall of various electronic products. This is hampering the market growth. However, according to the experts, this shortage is expected to recover by 2023 due to the rising efforts for increasing the production of semiconductors.
Scope of the Semiconductors Market
| Report Coverage | Details |
| Market Size in 2021 | USD 430 Billion |
| Growth Rate From 2021 to 2030 | CAGR of 6.6% |
| Fastest Growing Market | North America and Europe |
| Largest Market | Asia Pacific |
| Base Year | 2021 |
| Regional Scope |
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| Companies Covered | Samsung Electronics, Qualcomm Technologies, Inc., Broadcom, Inc., Intel Corporation, Texas Instruments, Taiwan Semiconductors, NXP Semiconductors, SK Hynix, Micron Technology, Maxim Integrated Products, Inc. |
Asia Pacific is the dominating and is also expected to be the fastest-growing market for the semiconductors. This is due to the presence of the top manufacturing units of various consumer electronic companies in the region. The nations like China and India are becoming the manufacturing hub of the world owing to the easy and cheap availability o the factors of production. Moreover the favorable policies of the government to attract FDIs is boosting the industrial development, which is a major factor for the increased consumption of the semiconductors in the region. Further, the rising government investments in the region to develop several smart cities that will use latest technologies like AR, VR, IoT, and AI is expected to fuel the demand for the semiconductors in the forthcoming years. Moreover, the rising demand for the consumer electronics in the region owing to the increased urbanization, rising disposable income, and growing demand for the digital products is supplementing the semiconductor market.
Europe and North American semiconductors market is estimated to witness considerable growth rate owing to the presence of strong telecommunications and automotive industries in the region. The rapidly rising investments by the market players in the research and developmental activities in the US will provide growth opportunities in the upcoming future.
The geo-politics may have a negative impact on the market growth. Like, the trade war between US and China resulted in the increased tariffs which will reduce the demand for the digital and electronics demand among the consumers. The trade war between China and US that started in 2018, if continues, then US may face a loss of over 15% of the market share in the semiconductors market.
The rising demand for the integrated chips owing to the increased demand for the mobile phones across the globe is significantly driving the market growth. Moreover, rising demand for the latest washing machines, dishwashers, and numerous other consumer electronics is boosting the consumption of the semiconductors, thereby propelling the market growth.
Based on the component, MPU and MCU segment dominated the market in 2020. This is attributed to the increased production of the laptops, desktops, and notebooks across the globe in the past. Furtherrapid growth in the work from home trend across the globe has significantly fostered the demand for the PCs and laptops that resulted in the significant amount of semiconductors across the globe. Moreover, the on-going trend and rising demand for the IoT devices is boosting the demand for the controllers and processorsthat augments the growth of the MPU and MCU segment. According to the National Cable and Telecommunications Association, there were around 50.1 billion connected devices in 2020 across the globe. In 2018, this number was around 34.8 billion. The IoT devices is expected to grow significantly in the upcoming future.
Based on the application, the automotive is estimated to be the most opportunistic segment during the forecast period. The increased adoption of the automotive vehicles in the developed regions of Europe and North America has augmented the growth in the past. The rising popularity of the electric vehicles among the global population is spurring the demand for the automotive semiconductors.
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Segments Covered in the Report
By Component
- Logic Devices
- MPU
- Power Devices
- MCU
- Analog IC
- Memory Devices
- Sensors
- Discrete Power Devices
- Others
By Application
- Data Processing
- Industrial
- Networking & Communications
- Consumer Electronics
- Automotive
- Government
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