Global Semiconductors Market Overview, 2024-29

The Global Semiconductors Market is segmented into By Device type (Memory Device, Logic Semiconductors, Microprocessor Unit, Analog IC, Op to Semiconductor, Discrete Semiconductor, Power Semiconductor, Micro Controller Unit, Digital Signal Processors, Semiconductor Sensors), By Application (Networking & Communications, Data Centre/ Data Processing, Consumer Electronics, Industrial, Automotive, Government, Healthcare, Aerospace and Defence, Others).

The Global Semiconductor market is anticipated to cross USD 1093.53 Billion by 2029 due to rapid technological advancements

Semiconductors Market Market Analysis

The worldwide semiconductor market has a significant impact on the present technological landscape, acting as the foundation for a wide range of electronic products and applications across multiple industries. Semiconductors are critical components that enable the operation of electronic devices ranging from smartphones and computers to automobiles and industrial machines. The semiconductor market has grown steadily over the years, owing to increased demand for innovative technologies and the global proliferation of electronic gadgets. The use of semiconductors in developing technologies such as 5G, artificial intelligence, and the Internet of Things (IoT) has been a significant driver of industry growth. These technologies have not only stimulated the desire for traditional consumer goods but also spurred the creation of smart houses, autonomous vehicles, and connected industrial systems. Asia-Pacific, particularly China, Taiwan, South Korea, and Japan, has been a driving force in the semiconductor industry. These countries are home to large semiconductor manufacturers, which contribute considerably to worldwide output. The region's technological prowess, along with strong manufacturing capabilities, has made it a vital player in the semiconductor supply chain. Furthermore, the semiconductor sector is marked by fierce competition and innovation, with companies always attempting to improve performance, reduce power consumption, and shrink chip sizes using new manufacturing technologies. One of the most notable changes in the semiconductor business is the increased emphasis on semiconductor materials and equipment, which are critical to the production process. Advancements in materials and equipment help to build smaller, more efficient chips, which drives innovation and keeps the industry competitive. As the demand for processing power and connectivity grows, the semiconductor market is projected to evolve through the introduction of new technologies such as quantum computing and advanced semiconductor architectures. Furthermore, sustainability concerns are gaining traction, prompting semiconductor manufacturers to investigate ecologically friendly manufacturing procedures and materials.

According to the research report, “Global Semiconductor Market Overview, 24-2029” published by Bonafide Research, the market is anticipated to cross USD 1093.53 Billion by 2029, increasing from USD 670.39 Billion in 2023. The market is expected to grow with 8.77% CAGR by 2024-29. Governments and industry players recognized the strategic relevance of semiconductor manufacturing, which prompted greater investments and measures to boost domestic semiconductor output. In the United States, for example, there was talk of rewarding semiconductor production to improve supply chain resilience. Demand for semiconductors in developing technologies has remained strong. The deployment of 5G networks, the expansion of artificial intelligence applications, and the proliferation of IoT devices have all contributed to the continued growth in semiconductor demand. Companies are investing in R&D to stay ahead of these technological changes. Following the pandemic's global disruptions, semiconductor businesses have focused on supply chain resilience and risk management. Diversifying sources, raising inventory levels, and reevaluating supply chain weaknesses have been key considerations for industry players. The semiconductor shortage has also resulted in increased coordination among industry parties. Automakers, semiconductor manufacturers, and governments have been in discussions to develop solutions to supply chain issues. This collaborative approach is critical for resolving the many reasons causing the shortage, including capacity restrictions, geopolitical variables, and the complexity of semiconductor supply chains. Sustainability is becoming a more essential consideration in the semiconductor industry. With an increased emphasis on environmental, social, and governance (ESG) aspects, semiconductor companies are looking into ways to lessen the environmental effect of production processes and create more energy-efficient chips. This development is consistent with broader worldwide initiatives to combat climate change and encourage sustainable practices across industries.

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Market Dynamic

Market Drivers

Emerging technologies - 5G, AI, and IoT: The rapid expansion and acceptance of emerging technologies such as 5G, AI, and the Internet of Things (IoT) are major drivers of the worldwide semiconductor market. The introduction of 5G networks necessitates innovative semiconductor technologies that can support increasing data speeds, reduced latency, and connections across a wide range of devices. Similarly, the expansion of AI applications necessitates the use of specialized semiconductor circuits capable of efficiently processing massive amounts of data. The Internet of Things (IoT), with its networked gadgets and sensors, relies largely on semiconductors for flawless communication and data processing. The surge in demand for these transformational technologies fuels continued semiconductor innovation and manufacture.

Automotive industry evolution and electric vehicles (EVs): The revolution of the automobile industry, fueled by the shift to electric vehicles (EVs) and enhanced connectivity, is a significant market driver for the semiconductor industry. Modern vehicles rely more on semiconductor components for advanced driver assistance systems (ADAS), infotainment systems, and electric powertrains. As the automobile industry accelerates its transition to electric and self-driving vehicles, demand for specialized semiconductors for sensors, processors, and communication modules grows. Semiconductors play an important role in improving safety, efficiency, and user experience in next-generation vehicles, making the automotive industry a vital driver of innovation and demand in semiconductor markets.

Market Challenges

Geopolitical uncertainties and trade rigidities: The semiconductor business is heavily influenced by geopolitical dynamics and trade conflicts among major nations. Strained relations between countries, such as the United States and China, can cause disruptions in the flow of technology, materials, and intellectual property. Trade restrictions and tariffs can have an impact on manufacturing costs and semiconductor firm’s competitiveness. The sector must approach these geopolitical concerns strategically, taking into account the implications of regulations for global supply chains, market access, and the ability to collaborate on R&D.

Environmental sustainability pressures: The semiconductor industry is under increased scrutiny and pressure to address environmental sustainability issues. The manufacturing procedures involved in semiconductor manufacture frequently require high energy consumption and the use of hazardous materials. As environmental awareness grows worldwide, semiconductor businesses face increasing pressure to develop cleaner and more sustainable manufacturing techniques. This includes creating and deploying solutions that reduce carbon footprints, conserve water, and restrict the use of hazardous chemicals. Achieving sustainability goals while remaining competitive and technologically advanced presents a unique challenge for semiconductor producers.

Market Trends

AI and edge computing integration: In recent years, one notable trend in the global semiconductor market has been the increasing integration of artificial intelligence (AI) capabilities into semiconductor devices. The demand for AI-powered applications, ranging from self-driving cars to smart home devices, has prompted semiconductor manufacturers to create specific chips suited for machine learning and neural network processing. This trend is strongly related to the growth of edge computing, in which processing takes place closer to the data source rather than depending only on centralized cloud servers. Semiconductor manufacturers are developing processors with greater AI capabilities to match the computing demands of edge devices, allowing for faster decision-making and less reliance on continual internet connectivity.

Automotive semiconductor boom: The automobile industry has emerged as a big driver of semiconductor demand, indicating a new trend in the market. The increased integration of modern technology inside automobiles, such as sensors, communication solutions, and advanced driver assistance systems (ADAS), has resulted in unprecedented demand for automotive semiconductors. The switch to electric vehicles (EVs) has accelerated this trend, necessitating specialized semiconductors for power management, battery control, and electric drivetrain components. The automotive semiconductor industry is expanding rapidly as both traditional automakers and new EV companies seek cutting-edge semiconductor solutions to improve vehicle performance, safety, and connection.

Covid-19 Impacts

The COVID-19 pandemic had a significant influence on the worldwide semiconductor industry, disrupting the supply chain and changing market dynamics. Factory closures, workforce difficulties, and international trade and travel restrictions all contributed to a slowdown in semiconductor output. Simultaneously, increased demand for electronics, remote work technology, and healthcare-related gadgets caused a supply-demand imbalance. The automotive industry, a key consumer of semiconductors, experienced manufacturing delays as a result of chip shortages. As a result, semiconductor makers and their clients had to adjust to a fast shifting landscape, emphasizing the importance of resilient supply chains, intelligent inventory management, and improved collaboration in navigating the pandemic's uncertainties.

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Semiconductors Market Segmentation

By Device type Memory Device
Logic Semiconductors
Microprocessor Unit
Analog IC
Op to Semiconductor
Discrete Semiconductor
Power Semiconductor
Micro Controller Unit
Digital Signal Processors
Semiconductor Sensors
By Application Networking & Communications
Data Centre/ Data Processing
Consumer Electronics
Aerospace and Defence
GeographyNorth AmericaUnited States
United Kingdom
Korea South

Based on device type segment of the market includes memory device, logic semiconductors, microprocessor unit, analog IC, opto semiconductor, discrete semiconductor, power semiconductor, micro controller unit, digital signal processors and semiconductor sensors. Among them micro controller unit device type segment is expected to grow at rapid pace in global semiconductor market.

The Internet of Things (IoT) has acquired significant traction, resulting in an increase in the number of linked devices. MCUs play an important role in IoT applications by providing processing power and control operations in embedded devices. As IoT use spreads across smart homes, industrial automation, healthcare, and other areas, the need for MCUs is likely to skyrocket. The automotive industry is incorporating sophisticated electronics and embedded technologies into vehicles for uses such as advanced driver assistance systems (ADAS), infotainment, and vehicle networking. MCUs are a critical component of these embedded systems, handling activities such as sensor data processing, electronic module control, and communication between vehicle components. The growing trend toward electric automobiles and autonomous driving further amplifies the need for advanced MCUs in the automotive sector. Microcontrollers are extensively used in consumer electronics such as smartphones, smart appliances, wearables, and home automation systems to ensure effective functioning and control. The constant innovation and introduction of new features in consumer electronics drives the demand for increasingly powerful and energy-efficient MCUs. As consumers desire smarter and more connected gadgets, the MCU device type category is seeing rising demand. The adoption of Industry 4.0 principles, which emphasize the integration of smart technologies in production, is a major driver of MCU growth. MCUs are used in industrial automation control systems, robotics, and sensor networks to provide real-time monitoring and control of manufacturing processes. As more sectors adopt smart manufacturing processes, the need for MCUs is projected to skyrocket.

Based on application segment market is divided into networking & communications, data centre/ data processing, consumer electronics, industrial, automotive, government, healthcare, aerospace and defense and others. Among them consumer electronics industry application is predicted to grow at fastest rate in global semiconductor market during the forecast period.

The increased demand for smart gadgets, such as smartphones, smart TVs, wearables, and linked home appliances, is a major driver in the consumer electronics business. These gadgets rely largely on modern semiconductor components like microcontrollers, CPUs, and sensors to provide better functionality, communication, and user experiences. As customers globally adopt smart technology, demand for semiconductors in the consumer electronics sector is expected to skyrocket. The consumer electronics business is distinguished by rapid technological advances and an ongoing cycle of innovation. Semiconductor makers play an important role in allowing these advances by creating cutting-edge components that enable the latest features and functionalities in electronic gadgets. The integration of new technologies, such as 5G connections, sophisticated display technologies, and AI-driven capabilities, requires the utilization of increasingly sophisticated semiconductors. Wearable gadgets, such as smartwatches and fitness trackers, have become an essential part of people's lives, adding to the increase in semiconductor demand. Furthermore, the widespread adoption of the Internet of Things (IoT) in consumer electronics, such as smart home gadgets and connected appliances, is driving semiconductor growth. These applications require efficient microcontrollers, sensors, and communication chips to ensure seamless connectivity and interoperability. Display technology advancements, such as OLED and Mini-LED, have become major features in high-end consumer electronics, including smartphones and television sets. These advanced displays frequently necessitate the use of specialist semiconductor components to ensure peak performance, efficiency, and image quality. As consumers desire gadgets with improved display capabilities, semiconductor makers must provide solutions that match these expectations.

Semiconductors Market Market Regional Insights

Based on report market includes three major regions North America, Europe and Asia-Pacific. North American region is expected to play major role in global semiconductor market in upcoming frame.

North America is home to some of the world's most important technical innovation and research hubs, including Silicon Valley in California. These areas act as hotspots for semiconductor research and development, encouraging collaboration among industrial companies, academic institutes, and entrepreneurs. The concentration of talent and knowledge in North American innovation centers leads to the ongoing progress of semiconductor technologies, which drives global innovation trends. North America is home to many of the world's leading semiconductor design companies, making the region a global leader in the field. These businesses are at the forefront of developing innovative microprocessor architectures, System-on-Chip (SoC) designs, and other semiconductor intellectual property (IP), which serve as the foundation for electronic devices around the world. The strength in semiconductor design places North America as a vital contributor to the global semiconductor ecosystem. North American semiconductor businesses frequently form strategic alliances and partnerships with other technological companies, academic institutes, and government organizations. These alliances are intended to stimulate innovation, exchange resources, and address industry difficulties collaboratively. The ability to develop synergistic alliances strengthens North America's role in influencing the global semiconductor landscape. Several prominent semiconductor manufacturers have a strong presence in North America. While Asia accounts for the majority of semiconductor manufacturing, North America is home to key semiconductor fabs and facilities. Furthermore, the region is home to semiconductor foundries such as GlobalFoundries, which play an important role in the manufacturing of semiconductor wafers and chips. North American design and production teams work together to develop semiconductor products from start to finish.

Key Development

• The Indian government has recently announced to boost its manufacturing capacity for semiconductors. The government has also launched a program ‘Semicon’ to promote the production of semiconductors in the country with an outlay of Rs.76,000 crore.

• The CHIPS Act 2022 by the United States government includes $52 billion for chip manufacturing, the act also offers incentives and tax credit for semiconductor manufacturing companies. The element under this act is supposed to support the production and manufacturing of semiconductor chips by strengthening the nation’s semiconductor market.

• According to the Semiconductor Industry Association, the United States exported $61.1 billion in semiconductors in 2022.

• Intel, one of the most prominent manufacturers of semiconductor chips stated in January 2023 that it has invested $20 billion in two new semiconductor chips factories in Ohio.

• In 2022, China established total 433 new companies for chip design and production. The total sales of Chinese semiconductor companies increased to $573 billion.

• In March 2023, the United States exported semiconductor devices to Mexico worth 125 million.

• The Canadian government has planned to spend $181.94 million on the country’s domestic semiconductor production industry.

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Companies Mentioned

  • Samsung Corporation Limited
  • Intel Corporation
  • Micron Technology, Inc.
  • NVIDIA Corporation
  • NXP Semiconductors N.V.
  • STMicroelectronics N.V.
  • Qualcomm Incorporated
  • SK hynix Inc
  • Mediatek Inc.
  • Broadcom Inc.
Company mentioned

Table of Contents

  • Table of Contents
  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers & Opportunities
  • 2.2. Market Restraints & Challenges
  • 2.3. Market Trends
  • 2.4. Covid-19 Effect
  • 2.5. Supply chain Analysis
  • 2.6. Policy & Regulatory Framework
  • 2.7. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Global Semi-conductors Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Region
  • 6.3. Market Size and Forecast, By Geography
  • 6.4. Market Size and Forecast, By Device Type
  • 6.5. Market Size and Forecast, By Application
  • 7. North America Semi-conductors Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Share By Country
  • 7.3. Market Size and Forecast, By Device Type
  • 7.4. Market Size and Forecast, By Application
  • 8. Europe Semi-conductors Market Outlook
  • 8.1. Market Size By Value
  • 8.2. Market Share By Country
  • 8.3. Market Size and Forecast, By Device Type
  • 8.4. Market Size and Forecast, By Application
  • 9. Asia-Pacific Semi-conductors Market Outlook
  • 9.1. Market Size By Value
  • 9.2. Market Share By Country
  • 9.3. Market Size and Forecast, By Device Type
  • 9.4. Market Size and Forecast, By Application
  • 10. Competitive Landscape
  • 10.1. Competitive Dashboard
  • 10.2. Business Strategies Adopted by Key Players
  • 10.3. Key Players Market Share Insights and Analysis, 2022
  • 10.4. Key Players Market Positioning Matrix
  • 10.5. Porter's Five Forces
  • 10.6. Company Profile
  • 10.6.1. Intel Corporation
  • Company Snapshot
  • Company Overview
  • Financial Highlights
  • Geographic Insights
  • Business Segment & Performance
  • Product Portfolio
  • Key Executives
  • Strategic Moves & Developments
  • 10.6.2. Micron Technology, Inc.
  • 10.6.3. Nvidia Corporation
  • 10.6.4. Qualcomm Incorporated
  • 10.6.5. SK hynix Inc
  • 10.6.6. Samsung Electronics Co. Ltd
  • 10.6.7. Mediatek Inc.
  • 10.6.8. Broadcom Inc.
  • 10.6.9. NXP Semiconductors N.V.
  • 10.6.10. STMicroelectronics N.V
  • 11. Strategic Recommendations
  • 12. Annexure
  • 12.1. FAQ`s
  • 12.2. Notes
  • 12.3. Related Reports
  • 13. Disclaimer

List of Table
Table 1: Global Semi-conductors Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Influencing Factors for Semi-conductors Market, 2023
Table 3: Top 10 Counties Economic Snapshot 2022
Table 4: Economic Snapshot of Other Prominent Countries 2022
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Semi-conductors Market Size and Forecast, By Geography (2018 to 2029F) (In USD Billion)
Table 7: Global Semi-conductors Market Size and Forecast, By Device Type (2018 to 2029F) (In USD Billion)
Table 8: Global Semi-conductors Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 9: North America Semi-conductors Market Size and Forecast, By Device Type (2018 to 2029F) (In USD Billion)
Table 10: North America Semi-conductors Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 11: Europe Semi-conductors Market Size and Forecast, By Device Type (2018 to 2029F) (In USD Billion)
Table 12: Europe Semi-conductors Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 13: Asia-Pacific Semi-conductors Market Size and Forecast, By Device Type (2018 to 2029F) (In USD Billion)
Table 14: Asia-Pacific Semi-conductors Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)

List of Figures
Figure 1: Global Semi-conductors Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Semi-conductors Market Size By Value (2018 , 2023 & 2029F) (in USD Billion)
Figure 5: Global Semi-conductors Market Share By Region (2023)
Figure 6: North America Semi-conductors Market Size By Value (2018 , 2023 & 2029F) (in USD Billion)
Figure 7: North America Semi-conductors Market Share By Country (2023)
Figure 8: Europe Semi-conductors Market Size By Value (2018 , 2023 & 2029F) (in USD Billion)
Figure 9: Europe Semi-conductors Market Share By Country (2023)
Figure 10: Asia-Pacific Semi-conductors Market Size By Value (2018 , 2023 & 2029F) (in USD Billion)
Figure 11: Asia-Pacific Semi-conductors Market Share By Country (2023)
Figure 12: Competitive Dashboard of top 5 players, 2023
Figure 13: Market Share insights of key players, 2023
Figure 14: Porter's Five Forces of Global Semi-conductors Market

Feed Phosphate Market Research FAQs

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The COVID-19 pandemic has affected the dairy products market through supply chain disruptions, changes in consumer behavior, fluctuations in commodity prices, and shifts in demand between retail and foodservice channels.

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Current trends in the dairy products market include the rise of plant-based dairy alternatives, premiumization and specialty dairy products, clean label and transparency, digital marketing and branding, and a focus on regional and cultural influences.

Milk holds a prominent position due to its nutritional richness, versatility, cultural significance, global availability, consumer preference for its taste, functional applications in processed foods, and ongoing innovation in the form of new milk-based products.

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Changing consumer behaviors, such as the shift towards online shopping, increased interest in health and wellness, and a focus on sustainable and ethical consumption, influence the types of dairy products consumed and drive innovation in the industry.

Innovative dairy products include lactose-free milk, plant-based dairy alternatives (e.g., almond milk, oat milk), functional dairy products with added health benefits (probiotics, vitamins), and specialty or artisanal cheeses that cater to evolving consumer preferences.

The dairy industry responds to dietary trends by developing and promoting plant-based alternatives, introducing dairy-free products, and incorporating plant-based ingredients into traditional dairy items. Producers often engage in product innovation to meet the preferences of consumers following plant-based diets.

Global Semiconductors Market Overview, 2024-29

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