Semiconductor Chip Market Size, Share, Growth Drivers and Regional Analysis, Global Forecast 2024 - 2031

AUSTIN, TEXAS, UNITED STATES, May 28, 2024 /EINPresswire.com/ -- Semiconductor Chip Market Size

According to a recent report by SNS Insider, the semiconductor chip market, valued at USD 640.3 billion in 2023, is projected to reach USD 1219 billion by 2031, exhibiting a robust compound annual growth rate (CAGR) of 8.38% during the forecast period of 2024-2031.

The semiconductor chip market's growth trajectory is being propelled by a multitude of factors

Rising adoption of laptops, smartphones, tablets, and other consumer electronics. The automotive industry's increasing reliance on semiconductor chips for advanced driver-assistance systems (ADAS), infotainment, and connectivity features is further bolstering market expansion. Additionally, the growing demand for data centers and cloud computing infrastructure is significantly contributing to the market's upward momentum.

Recent developments in the market underscore the industry's dynamism.

- In April 2024, Intel announced a substantial investment of over $32 billion to construct two new leading-edge chip factories and modernize an existing facility in Arizona, highlighting the company's commitment to advanced chip production.
- Qualcomm's expansion of its chip design facility in Chennai in March 2024, focusing on next-generation WiFi technologies, further illustrates the industry's focus on innovation.

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KEY PLAYERS:
- Infineon Technologies AG
- L3Harris Technologies
- QUALCOMM
- Intel Corp.
- NXP Semiconductors Inc.
- Kioxia Holdings Corp.
- Advanced Micro Devices Inc.
- Micron Technology Inc.
- Samsung Electronics Co. Ltd.
- STMicroelectronics N.V.
- Texas Instruments Inc.

Strategic partnerships and collaborations are also shaping the Semiconductor Chip Market landscape.

• In October 2023, Infineon Technologies AG and Archetype AI, Inc. forged a strategic partnership to accelerate the development of sensor-based chips with AI functionalities, promising to enhance safety, convenience, and sustainability.
• Micron Technology's announcement in June 2023 of plans to establish a new assembly and test facility in Gujarat, India, reflects the industry's commitment to expanding its global manufacturing footprint.

KEY MARKET SEGMENTS:

By Type
• Logic Chips
• Memory Chips
• Analog Chips
• Complex Systems-on-a-Chip
• Application-Specific Integrated Chips (ASICs)

The memory chips segment dominated the market in 2023, This is driven by the growing demand for data storage in various applications, including smartphones, personal computers, and data centers. The increasing adoption of cloud computing and the rising trend of big data analytics are further fueling the demand for memory chips.

By End-use
• Automotive
• Computing
• Consumer Electronics
• Wireless Communication
• Industrial
• Military

The consumer electronics segment held a significant revenue share in 2023, The proliferation of smartphones, smart TVs, wearable devices, and other consumer electronics is driving the demand for semiconductor chips in this segment. The increasing disposable income of consumers in emerging economies is further propelling the growth of this segment.

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North America dominated the semiconductor chip market in 2023

This dominance is driven by the presence of major semiconductor companies, technological advancements, and substantial investments in research and development. The region's strong focus on innovation and the increasing adoption of advanced technologies across various industries are contributing to its market leadership.

Market Analysis

- The semiconductor chip market presents significant opportunities for growth and innovation. The development of energy-efficient chips, miniaturization of semiconductor devices, and advancements in materials science are key areas of focus. The rising demand for high-performance computing (HPC) in various industries, including healthcare, finance, and scientific research, is also expected to create lucrative avenues for market players.
- However, the market faces geopolitical tensions, supply chain disruptions, and fluctuations in raw material prices. The ongoing conflict between Russia and Ukraine has introduced uncertainties in the global semiconductor supply chain, impacting production and distribution. Additionally, the economic slowdown in certain regions may affect consumer spending and consequently, the demand for semiconductor chips.

Key Takeaways

• The market's growth is driven by the increasing demand for advanced technology and the rapid expansion of the digital era.
• The market presents significant opportunities for growth and innovation despite challenges such as geopolitical tensions and supply chain disruptions.
• Technological advancements, such as the miniaturization of transistors and the emergence of new materials, are driving the market's evolution.
• The Russia-Ukraine war and the global economic slowdown have impacted the semiconductor chip market, but the long-term outlook remains positive.
• North America dominates the market, driven by the presence of major chip manufacturers and a thriving ecosystem of research and development institutions.

Table of Content – Analysis of Key Points

Chapter 1. Executive Summary
Chapter 2. Global Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. Semiconductor Chip Market Impact Analysis
Chapter 4.1 COVID-19 Impact Analysis
Chapter 4.2 Impact of Ukraine- Russia war
Chapter 4.3 Impact of ongoing Recession
Chapter 5. Value Chain Analysis
Chapter 6. Porter’s 5 forces model
Chapter 7. PEST Analysis
Chapter 8. Semiconductor Chip Global Market, by Type
Chapter 9. Semiconductor Chip Global Market, by End-Use
Chapter 10. Regional Outlook
Chapter 11. Competitive Intelligence
Chapter 12. Key Companies Analysis
Chapter 13. Research Process

Continued…

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