Semiconductor Market is estimated to be US$ 2692.3 Billion by 2034; Growing adoption of Consumer Electronic Product to Fuel Market Growth

Published Date: July 2024

A semiconductor has specific electrical properties which serve as a foundation for electronic equipment and computers. A semiconductor has become a solid chemical compound that conducts electricity under a particular condition, which makes it an ideal medium to control electric current and other electrical appliances. Technological advancement has played a vital role in market growth. Growing urbanization and rising demand for advanced consumer electronic devices have further boosted the Semiconductor market's growth.

The report Semiconductor Market, By Component (Logic Devices, Memory Devices, Discrete Power Devices, Sensors, MCU, MPU, Analog IC, and Others), By Application (Data Processing, Networking & Communications, Consumer Electronics, Industrial, Automotive, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”

Key Highlights:

  • In August 2022, Taiwan Semiconductor Manufacturing Co., set to develop ultra-advanced 3-nm (nanometer) chip production in market and began its 3nm chip mass production in second half of the year.

  • In November 2021, Texas Instruments Inc., planned to begin construction in 2022 with new 300-mm (millimeter) semiconductor wafer fabrication plant in Sherman, Texas. Investment in developing new plant will provide company a greater control of supply chain and to extend cost advantage.

Analyst View:

Advanced manufacturing and assembling plants of smartphone manufacturers and the high adoption of smartphones will likely propel market growth. Technological innovation and adoption of digital technologies are expected to fruitful the demand for the Semiconductor market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on Semiconductor Market, By Component (Logic Devices, Memory Devices, Discrete Power Devices, Sensors, MCU, MPU, Analog IC, and Others), By Application (Data Processing, Networking & Communications, Consumer Electronics, Industrial, Automotive, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034”

Key Market Insights from the report:

Semiconductor Market accounted for US$ 730.1 Billion in 2024 and is estimated to be US$ 2692.3 Billion by 2034 and is anticipated to register a CAGR of 2.00%. The Semiconductor Market is segmented based on Component, Application and Region:

  • Based on Component, Semiconductor Market is segmented into Logic Devices, Memory Devices, Discrete Power Devices, Sensors, MCU, MPU, Analog IC, and Others.
  • Based on Application, Semiconductor Market is segmented into Data Processing, Networking & Communications, Consumer Electronics, Industrial, Automotive and Others.
  • By Region, the Semiconductor Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of Semiconductor Market:

The prominent players operating in the Semiconductor Market includes, Qualcomm, Intel Corporation, Broadcom Inc., Samsung Electronics, Toshiba Corporation, NVIDIA Corporation, Taiwan Semiconductors, NXP Semiconductors N.V., Texas Instruments, Micron Technology, and others.

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