Global Semiconductor Device Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Global Semiconductor Device Market is expected to reach USD 911.13 billion by 2027, growing at a Compound Annual Growth Rate (CAGR) of 8.19% during the forecast period (2022-2027). The semiconductor industry is witnessing rapid growth, with semiconductors emerging as the basic building blocks of all modern technology. The advancements and innovations in this field are resulting in a direct impact on all downstream technologies.
Key HighlightsThe Global Semiconductor Device Market is witnessing fluctuation with growing consolidation, technological advancement, and geopolitical scenarios. Further, in a market where the sustainable competitive advantage through innovation is considerably high, the competition will only increase. In such a situation, the brand identity plays a major role, considering the importance of quality that the end-users expect from a semiconductor manufacturing player. With the presence of large market incumbents, such as Intel Corporation, Nvidia Corporation, Kyocera Corporation, Qualcomm Technologies Inc., and STMicroelectronics NV, the market penetration levels are also high.
The level of innovation, time-to-market, and performance are the key terms by which the players differentiate themselves in the market. Overall, the intensity of competitive rivalry is moderately growing over the forecast period.
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