Austin, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Semiconductor Device Market Size & Growth Insights:
According to the SNS Insider, “The Semiconductor Device Market Size was valued at USD 575 Billion in 2023 and is expected to reach USD 1191.1 Billion by 2032, and grow at a CAGR of 8.43% over the forecast period 2024-2032.”
Chip design and development cycles have continued to see improvements, while investments in suitable semiconductor infrastructure to cater to changing technology requirements, have also increased. The focus on device reliability and testing ensures that high performance is maintained, whilst IP and licensing are critical to foster innovation and maintain competitive advantage. Growing adoption of cloud computing and data centers also drives market growth considerably, owing to their pivotal role in powering high-performance computing, AI, and effectively handling vast amounts of data storage. The ongoing advancements in semiconductor technologies and the increasing demand across industries like telecommunications, automotive, and industrial automation are additional factors contributing to market growth.
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Leading Market Players with their Product Listed in this Report are:
- Intel Corporation (Microprocessors, Integrated Circuits)
- Samsung Electronics (Memory Chips, Processors, Display Drivers)
- Taiwan Semiconductor Manufacturing Company (TSMC) (Foundry Services, Integrated Circuits)
- NVIDIA Corporation (Graphics Processing Units (GPUs), AI Processors)
- Qualcomm Incorporated (Mobile Processors, Modems, RF Chips)
- Advanced Micro Devices, Inc. (AMD) (Microprocessors, GPUs, System-on-Chip (SoC))
- Broadcom Inc. (Semiconductor Components, Network and Broadband Chips)
- Texas Instruments Incorporated (Analog Semiconductors, Processors, Sensors)
- Micron Technology, Inc. (Memory Chips, DRAM, NAND Flash)
- Infineon Technologies AG (Power Semiconductors, Sensors, Automotive Chips)
- STMicroelectronics N.V. (Microcontrollers, Power Devices, Sensors)
- Analog Devices, Inc. (Signal Processing Chips, Sensors, Amplifiers)
- NXP Semiconductors N.V. (Automotive Chips, Security ICs, Processors)
- Renesas Electronics Corporation (Microcontrollers, Automotive Chips, Power Semiconductors)
- ON Semiconductor Corporation (Power Management ICs, Sensors, Automotive Semiconductors)
- MediaTek Inc. (Mobile SoCs, Wireless Chips, Smart TV Chips)
- ASML Holding N.V. (Photolithography Machines, Semiconductor Equipment)
- Maxim Integrated Products, Inc. (Analog ICs, Power Management Chips, Sensors)
- Sony Corporation (Image Sensors, Semiconductor Devices for Consumer Electronics)
- KLA Corporation (Semiconductor Process Control Equipment, Metrology Systems).
Semiconductor Device Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 575 Billion |
| Market Size by 2032 | USD 1191.1 Billion |
| CAGR | CAGR of 8.43% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segmentation | • By Device Type (Discrete Semiconductors, Optoelectronics, Sensors, Integrated Circuits) • By End-User Application (Automotive, Communication (Wired and Wireless), Consumer, Industrial, Computing/Data Storage, Government (Aerospace & Defense)) |
| Key Drivers | • Rise of electric vehicles and advancements in silicon carbide and gallium nitride technologies. |
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Key Industry Segmentation Analysis
By Device Type, Integrated circuits (ICs) dominating and Sensor Fastest Growing
Integrated circuits (ICs) dominated the semiconductor device market in 2023, accounting for approximately 40% of total revenue, driven by their widespread use in consumer electronics, automotive, telecommunications, and industrial automation applications. Due to their relatively small dimensions, energy-efficient features, and versatility, they have become indispensable for devices ranging from smartphones, computers, and home appliances to electric vehicles (EVs) and advanced driver-assistance systems (ADAS. Strong demand continues in sectors such as 5G, IoT, and automotive electrification. Despite challenges like supply chain disruptions and high manufacturing costs, advancements in fabrication technology ensure ICs remain at the forefront of the industry.
The sensor segment is the fastest-growing in the semiconductor market over the forecast peiod 2024-2032 , fueled by its increasing role in smart devices, automotive safety, industrial automation, and healthcare. rapid innovations in sensor technology, along with growing adoption in AI, robotics, and environmental monitoring, will drive market expansion, further shaping the semiconductor landscape.
By End-User Application, consumer dominating and Automotive Fastest Growing
In 2023, the consumer segment led the semiconductor device market, accounting for approximately 34% of total revenue, due to the wide use of semiconductors in smartphones, laptops, tablets, smart TVs, and wearables. Demand for high-performance, energy-efficient, and compact devices is driving continual innovations in semiconductor technology. The rapid pace of technological development in consumer electronics ensures this segment remains the largest end-user of semiconductor devices, sustaining strong market growth.
The automotive segment is projected to be the fastest-growing sector from 2024 to 2032, owing to increasing usage of electric vehicles (EVs), advanced driver-assistance system (ADAS), and autonomous driving technologies. The automotive industry will be one of the main drivers of semiconductor integration, where the integration of power devices, connectivity, and safety devices will have a significant impact on shaping the future of the semiconductor industry and contributing to its growth.
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Asia-Pacific Leads, North America Surges in Semiconductor Market Growth
In 2023, the Asia-Pacific region dominated the semiconductor device market, accounting for approximately 49% of total revenue. This leadership stems from a strong manufacturing base in China, South Korea, Japan, Taiwan, and Singapore, home to industry giants like TSMC, Samsung, and SK Hynix. With an advanced supply chain and cutting-edge fabrication technologies, the region efficiently meets demand from consumer electronics, automotive, and telecommunications sectors. The expansion of 5G, electric vehicles (EVs), and IoT adoption further strengthens Asia-Pacific’s market dominance.
North America emerged as the fastest-growing region over the forecast period 2024-2032, The U.S. —home to major companies such as Intel, Qualcomm and Micron sits at the forefront of this growth, spurred by increasing demand for EVs, autonomous vehicles, and 5G networks. Faced with these challenges, government initiatives such as the CHIPS Act, seek to improve domestic production and make North America a cornerstone of the global semiconductor industry.
Table of Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Chip Design & Development Cycle
5.2 Investment in Semiconductor Infrastructure:
5.3 Semiconductor Device Reliability & Testing
5.4 Intellectual Property (IP) and Licensing
5.5 Cloud Computing and Data Center Demand
6. Competitive Landscape
7. Semiconductor Device Market Segmentation, by Device Type
8. Semiconductor Device Market Segmentation, by End-User Application
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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