Semiconductor Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Semiconductor Market
The semiconductor market size was valued at USD 611.35 billion in 2023, and the market is now projected to grow from USD 681.05 billion in 2024 to USD 2062.59 billion by 2032, exhibiting a CAGR of 14.9% during the forecast period of 2024-2032.
In 2020, the spread of the COVID-19 virus halted the progression of the semiconductor market growth as it encountered a lot of concerns that it is faced with. However, the break also shifted fundamental market drivers and conditions, affecting business processes, revenues, and customer preferences. On the same note, growth in demand for semiconductor products, especially in the automobile industry and wired communication companies ensured that some of this revenue and sales figures were made up.
This market is benefiting from the population growth and the increasing urbanization that has enhanced the importance of superior consumer items. Samsung, Apple and Panasonic are some of the leading consumer electronics manufacturers that are investing in research and new product development so as to meet the increasing demand for music and communication devices. This again may help to drive long term growth in the semiconductor market and may also contribute to the increase in the semiconductor market share.
The next integration is AI and growing that is encouraging the automotive industry to adopt silicon chipsets. Big data, data analytics, facial recognition, and machine learning are some of the technologies that are actually helping semiconductor manufacturers formulate better units and equipment.
Comprehensive Analysis of Semiconductor Market
The semiconductors market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by component, and by application. The components include: memory devices, analog IC, logic devices, MPU, MCU, discrete power devices, sensors, and others. However, the applications include: networking & communications, industrial, data centers, automotive, consumer electronics, and government.
The Asia Pacific region leads the semiconductor market by benefitting a market size of USD 308.95 billion in 2023 due to the presence of a large supply of raw & manufactured materials in the region.
The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include:Broadcom, Inc. (U.S.) Samsung Electronics (South Korea) Intel Corporation (U.S.) Maxim Integrated Products, Inc. (U.S.) Taiwan Semiconductors (Taiwan) Micron Technology (U.S.) NXP Semiconductors N.V. (Netherlands) NVIDIA Corporation (U.S.) Qualcomm (U.S.) SK Hynix (South Korea) Texas Instruments (U.S.) Toshiba Corporation (Japan).
In March 2023, Envision Energy, an Envision Group subsidiary providing the world’s leading green technology, announced that it has started adopting Analog Devices, Inc. (Micro Electromechanical Systems) MEMS sensor technology in its new generation of smart wind turbines.
Segmentation Table
Global Semiconductor Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 14.9% from 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Components, and By Applications
By Components Memory Devices
Logic Devices
Analog IC
MPU
Discrete Power Devices
MCU
Sensors
Others (DSP)
By Applications Networking & Communications
- Ethernet Controllers
- Adapters & Switches
- Routers & Others
Data Centers
Industrial
- Power Controls and Motor Drives
- Intelligent Systems
- Industrial automation & Others
Consumer Electronics
- Home appliances
- Personal devices
- Other devices
Automotive
- Telematics & Infotainment
- Safety Electronics
- Chassis
- Powertrain
- Body Electronics
Government
By Region North America (By Component, Application, and Country)
- U.S. (By Application)
- Canada (By Application)
Europe (By Component, Application, and Country)
- U.K. (By Application)
- Germany (By Application)
- France (By Application)
- Italy (By Application)
- Rest of Europe (By Application)
Asia Pacific (By Component, Application, and Country)
- China (By Application)
- Japan (By Application)
- India (By Application)
- Taiwan (By Application)
- South Korea (By Application)
- Malaysia (By Application)
- Singapore (By Application)
- Rest of Asia Pacific (By Application)
South America (By Component, Application, and Country)
- Brazil (By Application)
- Mexico (By Application)
- Rest of South America (By Application)
Middle East & Africa (By Component, Application, and Country)
- GCC (By Application)
- South Africa (By Application)
- Rest of Middle East & Africa (By Application)
- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Recent Technological Developments
- 3.4. Impact of Investments & Initiatives Adopted
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Porter’s Five Force Analysis
- 4.4. Global Semiconductor Market Share Analysis and Matrix, 2023
- 5. Key Market Insights and Analysis, By Segments
- 6. Global Semiconductor Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Component (Value)
- 6.2.1. Memory Devices
- 6.2.2. Logic Devices
- 6.2.3. Analog IC
- 6.2.4. MPU
- 6.2.5. Discrete Power Devices
- 6.2.6. MCU
- 6.2.7. Sensors
- 6.2.8. Others (DSP, etc.)
- 6.3. By Application (Value)
- 6.3.1. Networking & Communications
- 6.3.1.1. Ethernet Controllers
- 6.3.1.2. Adapters & Switches
- 6.3.1.3. Routers & Others
- 6.3.2. Data Processing
- 6.3.3. Industrial
- 6.3.3.1. Power Controls and Motor Drives.
- 6.3.3.2. Intelligent Systems.
- 6.3.3.3. Industrial automation & others
- 6.3.4. Consumer Electronics
- 6.3.4.1. Home appliances
- 6.3.4.2. Personal devices
- 6.3.4.3. Other devices
- 6.3.5. Automotive
- 6.3.5.1. Telematics & Infotainment
- 6.3.5.2. Safety Electronics
- 6.3.5.3. Chassis
- 6.3.5.4. Powertrain
- 6.3.5.5. Body Electronics
- 6.3.6. Government
- 6.4. By Region (Value)
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Middle East & Africa
- 6.4.5. Latin America
- 7. North America Semiconductor Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Component (Value)
- 7.2.1. Memory Devices
- 7.2.2. Logic Devices
- 7.2.3. Analog IC
- 7.2.4. MPU
- 7.2.5. Discrete Power Devices
- 7.2.6. MCU
- 7.2.7. Sensors
- 7.2.8. Others (DSP, etc.)
- 7.3. By Application (Value)
- 7.3.1. Networking & Communications
- 7.3.1.1. Ethernet Controllers
- 7.3.1.2. Adapters & Switches
- 7.3.1.3. Routers & Others
- 7.3.2. Data Processing
- 7.3.3. Industrial
- 7.3.3.1. Power Controls and Motor Drives.
- 7.3.3.2. Intelligent Systems.
- 7.3.3.3. Industrial automation & others
- 7.3.4. Consumer Electronics
- 7.3.4.1. Home appliances
- 7.3.4.2. Personal devices
- 7.3.4.3. Other devices
- 7.3.5. Automotive
- 7.3.5.1. Telematics & Infotainment
- 7.3.5.2. Safety Electronics
- 7.3.5.3. Chassis
- 7.3.5.4. Powertrain
- 7.3.5.5. Body Electronics
- 7.3.6. Government
- 7.4. By Country (USD)
- 7.4.1. United States
- 7.4.1.1. By Application
- 7.4.2. Canada
- 7.4.2.1. By Application
- 8. Europe Semiconductor Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Component (Value)
- 8.2.1. Memory Devices
- 8.2.2. Logic Devices
- 8.2.3. Analog IC
- 8.2.4. MPU
- 8.2.5. Discrete Power Devices
- 8.2.6. MCU
- 8.2.7. Sensors
- 8.2.8. Others (DSP, etc.)
- 8.3. By Application (Value)
- 8.3.1. Networking & Communications
- 8.3.1.1. Ethernet Controllers
- 8.3.1.2. Adapters & Switches
- 8.3.1.3. Routers & Others
- 8.3.2. Data Processing
- 8.3.3. Industrial
- 8.3.3.1. Power Controls and Motor Drives.
- 8.3.3.2. Intelligent Systems.
- 8.3.3.3. Industrial automation & others
- 8.3.4. Consumer Electronics
- 8.3.4.1. Home appliances
- 8.3.4.2. Personal devices
- 8.3.4.3. Other devices
- 8.3.5. Automotive
- 8.3.5.1. Telematics & Infotainment
- 8.3.5.2. Safety Electronics
- 8.3.5.3. Chassis
- 8.3.5.4. Powertrain
- 8.3.5.5. Body Electronics
- 8.3.6. Government
- 8.4. By Country (USD)
- 8.4.1. United Kingdom
- 8.4.1.1. By Application
- 8.4.2. Germany
- 8.4.2.1. By Application
- 8.4.3. France
- 8.4.3.1. By Application
- 8.4.4. Italy
- 8.4.4.1. By Application
- 8.4.5. Rest of Europe
- 9. Asia Pacific Semiconductor Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Component (Value)
- 9.2.1. Memory Devices
- 9.2.2. Logic Devices
- 9.2.3. Analog IC
- 9.2.4. MPU
- 9.2.5. Discrete Power Devices
- 9.2.6. MCU
- 9.2.7. Sensors
- 9.2.8. Others (DSP, etc.)
- 9.3. By Application (Value)
- 9.3.1. Networking & Communications
- 9.3.1.1. Ethernet Controllers
- 9.3.1.2. Adapters & Switches
- 9.3.1.3. Routers & Others
- 9.3.2. Data Processing
- 9.3.3. Industrial
- 9.3.3.1. Power Controls and Motor Drives.
- 9.3.3.2. Intelligent Systems.
- 9.3.3.3. Industrial automation & others
- 9.3.4. Consumer Electronics
- 9.3.4.1. Home appliances
- 9.3.4.2. Personal devices
- 9.3.4.3. Other devices
- 9.3.5. Automotive
- 9.3.5.1. Telematics & Infotainment
- 9.3.5.2. Safety Electronics
- 9.3.5.3. Chassis
- 9.3.5.4. Powertrain
- 9.3.5.5. Body Electronics
- 9.3.6. Government
- 9.4. By Country (USD)
- 9.4.1. China
- 9.4.1.1. By Application
- 9.4.2. Japan
- 9.4.2.1. By Application
- 9.4.3. Taiwan
- 9.4.3.1. By Application
- 9.4.4. South Korea
- 9.4.4.1. By Application
- 9.4.5. India
- 9.4.5.1. By Application
- 9.4.6. Singapore
- 9.4.6.1. By Application
- 9.4.7. Malaysia
- 9.4.7.1. By Application
- 9.4.8. Rest of Asia Pacific
- 10. Middle East & Africa Semiconductor Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Component (Value)
- 10.2.1. Memory Devices
- 10.2.2. Logic Devices
- 10.2.3. Analog IC
- 10.2.4. MPU
- 10.2.5. Discrete Power Devices
- 10.2.6. MCU
- 10.2.7. Sensors
- 10.2.8. Others (DSP, etc.)
- 10.3. By Application (Value)
- 10.3.1. Networking & Communications
- 10.3.1.1. Ethernet Controllers
- 10.3.1.2. Adapters & Switches
- 10.3.1.3. Routers & Others
- 10.3.2. Data Processing
- 10.3.3. Industrial
- 10.3.3.1. Power Controls and Motor Drives.
- 10.3.3.2. Intelligent Systems.
- 10.3.3.3. Industrial automation & others
- 10.3.4. Consumer Electronics
- 10.3.4.1. Home appliances
- 10.3.4.2. Personal devices
- 10.3.4.3. Other devices
- 10.3.5. Automotive
- 10.3.5.1. Telematics & Infotainment
- 10.3.5.2. Safety Electronics
- 10.3.5.3. Chassis
- 10.3.5.4. Powertrain
- 10.3.5.5. Body Electronics
- 10.3.6. Government
- 10.4. By Country (USD)
- 10.4.1. GCC
- 10.4.1.1. By Application
- 10.4.2. South Africa
- 10.4.2.1. By Application
- 10.4.3. Rest of MEA
- 11. Latin America Semiconductor Market Size Estimates and Forecasts, By Segments, 2019-2032
- 11.1. Key Findings
- 11.2. By Component (Value)
- 11.2.1. Memory Devices
- 11.2.2. Logic Devices
- 11.2.3. Analog IC
- 11.2.4. MPU
- 11.2.5. Discrete Power Devices
- 11.2.6. MCU
- 11.2.7. Sensors
- 11.2.8. Others (DSP, etc.)
- 11.3. By Application (Value)
- 11.3.1. Networking & Communications
- 11.3.1.1. Ethernet Controllers
- 11.3.1.2. Adapters & Switches
- 11.3.1.3. Routers & Others
- 11.3.2. Data Processing
- 11.3.3. Industrial
- 11.3.3.1. Power Controls and Motor Drives.
- 11.3.3.2. Intelligent Systems.
- 11.3.3.3. Industrial automation & others
- 11.3.4. Consumer Electronics
- 11.3.4.1. Home appliances
- 11.3.4.2. Personal devices
- 11.3.4.3. Other devices
- 11.3.5. Automotive
- 11.3.5.1. Telematics & Infotainment
- 11.3.5.2. Safety Electronics
- 11.3.5.3. Chassis
- 11.3.5.4. Powertrain
- 11.3.5.5. Body Electronics
- 11.3.6. Government
- 11.4. By Country (USD)
- 11.4.1. Brazil
- 11.4.1.1. By Application
- 11.4.2. Mexico
- 11.4.2.1. By Application
- 11.4.3. Rest of Latin America
- 12. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 12.1. Advanced Micro Devices AMD
- 12.1.1. Overview
- 12.1.1.1. Key Management
- 12.1.1.2. Headquarters
- 12.1.1.3. Offerings/Business Segments
- 12.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.1.2.1. Employee Size
- 12.1.2.2. Past and Current Revenue
- 12.1.2.3. Geographical Share
- 12.1.2.4. Business Segment Share
- 12.1.2.5. Recent Developments
- 12.2. Applied Materials
- 12.2.1. Overview
- 12.2.1.1. Key Management
- 12.2.1.2. Headquarters
- 12.2.1.3. Offerings/Business Segments
- 12.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.2.2.1. Employee Size
- 12.2.2.2. Past and Current Revenue
- 12.2.2.3. Geographical Share
- 12.2.2.4. Business Segment Share
- 12.2.2.5. Recent Developments
- 12.3. Broadcomm Inc.
- 12.3.1. Overview
- 12.3.1.1. Key Management
- 12.3.1.2. Headquarters
- 12.3.1.3. Offerings/Business Segments
- 12.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.3.2.1. Employee Size
- 12.3.2.2. Past and Current Revenue
- 12.3.2.3. Geographical Share
- 12.3.2.4. Business Segment Share
- 12.3.2.5. Recent Developments
- 12.4. Intel Corporation
- 12.4.1. Overview
- 12.4.1.1. Key Management
- 12.4.1.2. Headquarters
- 12.4.1.3. Offerings/Business Segments
- 12.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.4.2.1. Employee Size
- 12.4.2.2. Past and Current Revenue
- 12.4.2.3. Geographical Share
- 12.4.2.4. Business Segment Share
- 12.4.2.5. Recent Developments
- 12.5. MICRON TEchnology
- 12.5.1. Overview
- 12.5.1.1. Key Management
- 12.5.1.2. Headquarters
- 12.5.1.3. Offerings/Business Segments
- 12.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.5.2.1. Employee Size
- 12.5.2.2. Past and Current Revenue
- 12.5.2.3. Geographical Share
- 12.5.2.4. Business Segment Share
- 12.5.2.5. Recent Developments
- 12.6. Qualcomm
- 12.6.1. Overview
- 12.6.1.1. Key Management
- 12.6.1.2. Headquarters
- 12.6.1.3. Offerings/Business Segments
- 12.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.6.2.1. Employee Size
- 12.6.2.2. Past and Current Revenue
- 12.6.2.3. Geographical Share
- 12.6.2.4. Business Segment Share
- 12.6.2.5. Recent Developments
- 12.7. Samsung Electronics
- 12.7.1. Overview
- 12.7.1.1. Key Management
- 12.7.1.2. Headquarters
- 12.7.1.3. Offerings/Business Segments
- 12.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.7.2.1. Employee Size
- 12.7.2.2. Past and Current Revenue
- 12.7.2.3. Geographical Share
- 12.7.2.4. Business Segment Share
- 12.7.2.5. Recent Developments
- 12.8. SK HYNIX
- 12.8.1. Overview
- 12.8.1.1. Key Management
- 12.8.1.2. Headquarters
- 12.8.1.3. Offerings/Business Segments
- 12.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.8.2.1. Employee Size
- 12.8.2.2. Past and Current Revenue
- 12.8.2.3. Geographical Share
- 12.8.2.4. Business Segment Share
- 12.8.2.5. Recent Developments
- 12.9. Taiwan Semiconductors
- 12.9.1. Overview
- 12.9.1.1. Key Management
- 12.9.1.2. Headquarters
- 12.9.1.3. Offerings/Business Segments
- 12.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.9.2.1. Employee Size
- 12.9.2.2. Past and Current Revenue
- 12.9.2.3. Geographical Share
- 12.9.2.4. Business Segment Share
- 12.9.2.5. Recent Developments
- 12.10. Texas Instruments
- 12.10.1. Overview
- 12.10.1.1. Key Management
- 12.10.1.2. Headquarters
- 12.10.1.3. Offerings/Business Segments
- 12.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 12.10.2.1. Employee Size
- 12.10.2.2. Past and Current Revenue
- 12.10.2.3. Geographical Share
- 12.10.2.4. Business Segment Share
- 12.10.2.5. Recent Developments
- 13. Key Takeaways
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