Global Semiconductor Devices Market 2023-2030

Global Semiconductor Devices Market 2023-2030

Global Semiconductor and Related Devices Market Size, Share & Trends Analysis Report by Type (Intrinsic Semiconductor, Extrinsic Semiconductor), by Product Type (Integrated Circuits, Memory Chips, Microprocessors, and Other Product types), and by End-User (Information Technology, Aerospace & Defense, Consumer Electronics, Automotive, Healthcare, and Other End Users) Forecast Period (2022-2028)

The global semiconductor and related devices market is anticipated to grow at a CAGR of 7.0% during the forecast period. The primary factor boosting the market growth includes the increasing number of electronic devices such as smartphones, tablets, laptops, and the development of new technologies such as 5G wireless networks, AI, and IoT. In addition to this, the use of semiconductors and related devices in the automobile industry has increased significantly with features such as advanced driver assistance systems, infotainment systems, and many others. For example, the total number of smartphone devices across the globe reached 6 billion in 2020, i.e., eight people out of 10 own a smartphone in 2020, eventually driving the revenues of semiconductor manufacturing companies. Therefore, the increasing use of smartphones is expected to drive the semiconductors and related devices market. For instance in November 2022, the US federal will invest in semiconductor design and R&D approximately $20 billion to $30 billion through 2030—including $15 billion to $20 billion for an investment tax credit for semiconductor design and this will help maintain long-term US chip design leadership.

Segmental Outlook

The global semiconductor and related devices market is segmented based on the type, product type, and end-user. Based on the type, the market is segmented into intrinsic semiconductors, and extrinsic semiconductors. Based on the product type, the market is sub-segmented into integrated circuits, memory chips, microprocessors, and other product types. Further, based on end-user, the market is segmented into information technology, aerospace & defense, consumer electronics, automotive, healthcare, and other End Users.

Among the product type, memory chips are anticipated to register significant growth for the forecast period. the increasing demand for high-performance memory chips in various industries including consumer electronics and automotive. Companies in the memory chip market are developing chips with major technological changes that contribute to the growth of demand for memory chips. Researchers are creating memory chips that can store and process the data, reducing the time and energy required to transfer data and increasing the speed of processors. For instance, Samsung Electronics announced the mass production of fifth-generation V-NAND memory chips that transfer data faster and additionally have the fastest data write speed at 500 microseconds (µs). This write speed is a 30% improvement over the previous generation, and the read-time has significantly reduced to 50µs. Technological advances reducing the data transfer time and energy contribute to the growth of the market.

Regional Outlook

The global semiconductor and related devices market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The demand for vehicles in North American region is growing significantly. Semiconductor chips are an important part of modern vehicles, as these chips can perform various functions such as managing emissions, providing vehicle safety, store vehicle data and others. Hence the demand of semiconductor and related devices is expected to grow during the forecast period.

Global Semiconductor and Related Devices Market Growth, by Region 2023-2030

Source: OMR Analysis

The Asia-Pacific Region is Expected to Hold Prominent Share in the Global Semiconductor And Related Devices Market

Among all regions, the Asia-Pacific region is anticipated to emerge as the fastest-growing regional market over the forecast period. The rapid growth of emerging markets in the region such as China, India, and others has fueled demand for consumer electronics and automotive applications. Samsung, TSMC, Hynix, and other companies invested in AI-assisted semiconductor manufacturing, research, and development as well as the installation of new plants which further boost the demand the semiconductor and other devices. For instance, in December 2021, SK Hynix, a South Korean company acquired the first phase of Intel’s SSD business and Dalian NAND Flash manufacturing facility assets in China for $7 billion and the second phase is expected to occur in or after March 2025 with the remaining payment of $2 billion. The acquisition will allow SK Hynix to expand its NAND Flash and SSD business.

Market Players Outlook

The major companies serving the global semiconductor devices market include Qualcomm, Samsung Semiconductor, Broadcom, and MediaTek, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2022, GlobalFoundries, a semiconductor manufacturing company and Qualcomm Technologies, announced the extension of a long-term agreement to secure US supply through 2028. This agreement is more than doubling their existing strategic global long-term semiconductor manufacturing agreement that GF and Qualcomm's respective subsidiaries had previously signed.

In April 2021, Marvell a US-based semiconductor company completes the acquisition of Inphi another US-based company. This acquisition enhances Marvell’s product portfolio and enables it to offer more comprehensive solutions for data center and 5G infrastructure markets.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global semiconductor and related devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.