Semiconductor Market Size Projected to Reach USD 1,883.7 Billion By 2032
The global semiconductor market size surpassed USD 591.8 billion in 2022 and is projected to reach around USD 1,883.7 billion by 2032, expanding at a double digit CAGR of 12.28% from 2023 to 2032.
Ottawa, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The global *semiconductor market* size accounted for USD 664.2 billion in 2023, According to Precedence Research. Asia Pacific led the global market with the largest market share of 46% in 2022.The semiconductor market is driven by the growing consumer electronic industry, technological advancements and rising investment. In addition, the growing demand for semiconductor components from the automotive sector is expected to propel the market growth during the forecast period.
A semiconductor is a material with electrical conductivity between that of a conductor and an insulator. The conductivity of a semiconductor can be controlled and modified by factors such as temperature, light, or the addition of impurities, a process known as doping. This ability to manipulate conductivity makes semiconductors a crucial component in electronic devices. The most common semiconductor material is silicon, but other materials like germanium and gallium arsenide are also used. Semiconductors are fundamental to the operation of various electronic components, including transistors, diodes, and integrated circuits. These components form the basis of modern electronics and are essential in the construction of devices such as computers, smartphones, and other electronic systems. The field of semiconductor physics and technology has played a pivotal role in the development of the digital age. The market is majorly driven by the increasing number of product launches.*Download the Sample Pages@ **https://www.precedenceresearch.com/sample/1376*
For instance, in November 2023, the industry's highest*1 pixel count, 5.32 effective megapixels, will be available soon with the Sony Semiconductor Solutions Corporation (SSS) IMX992 short-wavelength infrared (SWIR) image sensor for industrial equipment. With an industry-smallest*1 pixel size of 3.45 μm among SWIR image sensors, the new *sensor* makes use of SSS's unique Cu-Cu coupling. In addition, it has a pixel structure tuned to capture light effectively, allowing for high-definition photography over a wide range of wavelengths (0.4 to 1.7 μm) in the short-wavelength infrared area (visible to invisible).
Additionally, in comparison to traditional goods, new shooting modes provide high-quality photographs with noticeably less noise in dimly illuminated areas. To further broaden its array of SWIR image sensors, SSS will also release the IMX993, which has an effective pixel count of 3.21 megapixels and a pixel size of 3.45 μm. These new, very sensitive and pixel-counting SWIR image sensors will aid in the advancement of several industrial devices.
· According to the GSM Association report 2022, by 2025, there will be around 400 million new mobile users, with most of them coming from Sub-Saharan Africa and Asia Pacific.
· In October 2022, Siemens AG declared that it would provide USD 5.41 billion to India to assist with the nation's fast urbanization and energy transition.
· in March 2023, the Banglore Safe City Project officially began with the announcement of phase one by Honeywell International. With this initiative, the business hopes to use its intelligent and networked safety and security technologies to provide a productive, secure, and empowering environment for women and girls. The business is probably going to set up over 7,000 cameras at over 3,000 key spots throughout Bengaluru. These cameras have systems that are capable of artificial intelligence (AI). The city's video feeds may be analyzed due to the AI-powered video analytics platform.
· $13 billion is invested in semiconductor research and development under the CHIPS and Science Act, which will ensure that the United States remains a leader in technology for many years to come. These initiatives offer financial support to encourage cooperation and sustained innovation amongst academic institutions, businesses, government, and other stakeholders. The pipeline of scientists and engineers that these programs aid in creating is crucial because it will support future innovation in the semiconductor industry.
· According to the Ministry of Science and ICT (South Korea), there were over 29.6 million 5G customers in South Korea as of March 2023.*You can place an order or ask any questions, please feel free to contact us at *
*sales@precedenceresearch.com** | +1 650 460 3308*
*Regional Stance*
Asia Pacific is expected to dominate the market during the forecast period. The market growth in the region is attributed to the growing investment in the semiconductor industry particularly in China and India. For instance, according to secondary sources, approximately USD 40 billion was spent in the semiconductor sector by the Chinese government. In the fight to control the manufacture of high-end chips, the nation attempts to overtake the US and other competitors. Furthermore, plans to establish a private-sector task force to improve cooperation between the US Semiconductor Industry Association (SIA) and the India Electronics and Semiconductor Association (IESA) in the global semiconductor ecosystem were revealed in January 2023.
North America is expected to grow at a substantial rate over the forecast period. The market expansion is ascribed to the growing R&D investment. According to the Semiconductor Industry Association, the U.S. semiconductor sector invested a total of $58.8 billion in research and development in 2022. Over the past 20 years, annual R&D expenses as a percentage of sales have topped 15 percent. Among the main manufacturing sectors of the US economy, this rate is unparalleled. Furthermore, the region's expanding 5G infrastructure presents a possible opportunity for the semiconductor sector.
*Report Highlights:*
*Component Insights*
The MPU and MCU segment is expected to hold the largest market share during the forecast period. An MPU, or microprocessor, is a central processing unit (CPU) that performs arithmetic and logic operations in a computer. It serves as the brain of a computer or electronic device, executive instructions and coordinating the overall operation of the system. Whereas a *microcontroller (MCU)*, is a compact integrated circuit that contains a processor core, memory, and input/output peripherals.
MCUs are designed for embedded systems and are used to control specific functions within electronic devices. The broad use of MPUs and MCUs in the production of devices including PCs, laptops, desktops, and notebooks has historically greatly aided in the expansion of this market. The increasing trend of IoT devices and their corresponding demand is driving up demand for powerful processors and controllers, which is driving up the MPU and MCU sectors' growth.
*Application Insights*
The networking & communications segment is expected to capture a significant market share over the projected period. The proliferation of wireless communication technologies, including Wi-Fi, Bluetooth, and cellular networks (4G and 5G) is a significant driver for semiconductor companies. The demand for wireless connectivity in smartphones, IoT devices, and other wireless-enabled products fuels the growth of this segment.
Furthermore, the increasing demand for high-speed data transmission has led to increased investments in fiber optics and optical networking. Semiconductors play a crucial role in the development of components such as optical transceivers, amplifiers, and switches for optical communication systems. Thus, this is expected to drive the segment expansion.
*Customize this study as per your requirement@ **https://www.precedenceresearch.com/customization/1376*
*Semiconductor Market Scope*
*Report Highlights* *Details*
Market Size in 2023 $ 664.2 Billion
Market Size by 2032 $ 1,883.7 Billion
CAGR 12.28% from 2023 to 2032
Base Year 2022
Forecast Period 2023 to 2032
Largest Market Asia Pacific
Segments Covered Component, Application, and Regions
*Market Dynamics:*
*Driver*
*Increasing use of semiconductors in automobiles*
The market's shift toward autonomous, connected, electric, and sharing (ACES) mobility is the main factor driving the automobile industry's increased semiconductor usage. Advanced driver assistance systems, or "ADAS," are becoming commonplace in most new cars. These features, which include parallel parking, adaptive cruise control, automated braking, blind spot monitoring, and adaptive cruise control, are laying the groundwork for eventually having completely autonomous cars. The majority of new cars are equipped with connectivity capabilities like Bluetooth, wireless internet, and navigation systems as standard, with advancements in vehicle-to-vehicle and vehicle-to-infrastructure communication being made.
In addition, compared to conventional internal combustion engine automobiles, automakers are selling a growing percentage of hybrid and *electric vehicles*. The transition to ACES mobility is happening faster due to stricter safety and pollution rules, rising customer demand for comfort, and increasing vehicle performance. Hybrid electric cars can have up to $1,000 and 3,500 semiconductors in them, compared to an average of $330 in conventional automobiles. Thus, this is expected to propel the semiconductor industry during the forecast period.
*Restraint*
*High R&D cost and complex manufacturing*
Developing cutting-edge semiconductor technologies requires substantial investments in research and development. The high cost of R&D can be a challenge for smaller companies and may impact profit margins for larger companies. In addition, the fabrication of semiconductor devices involves intricate manufacturing processes. Any disruptions or issues in these processes can lead to delays, increased costs, and reduced yields, affecting the overall market performance. Therefore, the high cost of R&D and complex manufacturing process is expected to hamper the market expansion during the forecast period.
*Opportunity*
*Increasing collaboration*
The increasing collaboration is expected to propel the market growth during the forecast period. For instance, in December 2023, a memorandum of understanding (MoU) was struck by major technology giant Siemens AG and one of the biggest semiconductor businesses in the world, Intel Corporation, to work together to advance the digitalization and sustainability of microelectronics production. For example, the partnership will investigate the application of "digital twins" of intricate, extremely capital-intensive manufacturing facilities to standardize solutions where each percentage increase in efficiency has a significant impact.
Along with reducing energy usage, the partnership will investigate sophisticated modeling of natural resources and environmental footprints along the whole value chain. Intel will work with Siemens to investigate product- and supply chain-related modeling solutions that generate data-driven insights and facilitate the industry's acceleration of efforts to reduce its overall environmental impact to obtain more information on emissions connected to products.
*Related Reports:*
· *Smart Sensors Market:* The global *smart sensors market* size reached USD 38.97 billion in 2023 and is expected to hit around USD 231.04 billion by 2032, poised to grow a CAGR of 19.48% during the forecast period from 2023 to 2032.
· *Data Center Market: *The global *data center market* size is expected to hit around USD 640.77 billion by 2032 from USD 229.23 billion in 2023 and is poised to grow at a CAGR of 12.10% during the forecast period from 2023 to 2032.
· *Space Semiconductor Market:* The global *space semiconductor market* size is projected to hit around USD 5.93 billion by 2032 from USD 3.5 billion in 2022 and is growing at a CAGR of 5.42% during the forecast period from 2023 to 2032.
· *Data Center Infrastructure Market:* The global *data center infrastructure market* size reached USD 3.24 billion in 2023 and is expected to hit around USD 12.51 billion by 2032, poised to grow a CAGR of 16.20% during the forecast period from 2023 to 2032.
· *Semiconductor Memory Market: *The global *semiconductor memory market* size is expected to hit around USD 190.11 billion by 2032 from USD 97.1 billion in 2022 and is poised to grow at a CAGR of 7% during the forecast period from 2023 to 2032.*Recent Developments:*
· In November 2023, a leading supplier of high-performance connection products to the automotive and audio-video industries, Valens Semiconductor announced the release of the VS6320 chipset, a USB3.2 Gen1 extension solution. High-performance and effective long-distance single-chip extension is offered by Valens Semiconductor's VS6320, which fills a vital need in the worldwide markets for videoconferencing, information technology (IT), industrial, and medical applications. As scheduled, in the fourth quarter of 2023, Valens will begin sending engineering samples to a limited group of clients, supporting the company's long-term goal of using its wide range of products to revolutionize digital experiences globally. USB 3.2 has become the standard interface for IT and videoconferencing equipment, and it is being utilized more and more in industrial and medical settings. Customers using the highly integrated chipset in their products will have access to a more robust, long-range, low-power, compact, and affordable solution that supports all USB3.2 Gen1 data transmission types.
· In November 2023, the BTD1RVFL family of silicon capacitors is a new product produced by ROHM. Wearable technology and cellphones are using the gadgets more and more. Long-term development of silicon semiconductor processing technology has made it possible to achieve greater performance in smaller packages. The RASMIDTM downsizing method used by ROHM to manufacture its silicon capacitors allows for processing in 1µm increments, which increases dimensional tolerances within ±10µm and avoids chipping during external formation. This slight difference in product size allows components to be mounted closer together. To increase mounting strength, the backside electrode that is utilized to bind to the substrate has also been extended to the package's perimeter.
*Market Key Players:*
· Intel Corporation
· Qualcomm Technologies, Inc.
· Broadcom, Inc.
· Taiwan Semiconductors
· Samsung Electronics
· Texas Instruments
· SK Hynix
· Micron Technology
· NXP Semiconductors
· Maxim Integrated Products, Inc.
*Market Segmentation*
*By Component*
· Logic Devices
· MPU
· Power Devices
· MCU
· Analog IC
· Memory Devices
· Sensors
· Discrete Power Devices
· Others*By Application*
· Data Processing
· Industrial
· Networking & Communications
· Consumer Electronics
· Automotive
· Government
*By Geography*
· North America
· Europe
· Asia Pacific
· Latin America
· Rest of the World*Immediate Delivery Available | Buy This Premium Research Report@ **https://www.precedenceresearch.com/checkout/1376*
*Unlocking Market Insights through Data Excellence *
The "Precedence Statistics" flexible dashboard is a powerful tool that offers real-time news updates, economic and market forecasts, and customizable reports. It can be configured to support a wide range of analysis styles and strategic planning needs. This tool empowers users to stay informed and make data-driven decisions in various scenarios, making it a valuable asset for businesses and professionals looking to stay ahead in today's dynamic and data-driven world.
*To Access our Premium Real-Time Data Intelligence Tool, Visit: *
*www.precedencestatistics.com*
*About Us*
Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
*Web: **https://www.precedenceresearch.com/*
*Our Blogs:*
*https://www.towardshealthcare.com*
*https://www.towardspackaging.com*
*For Latest Update Follow Us:*
*Linkedin** | **Facebook** | **Twitter*