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Semiconductor And Related Devices Market Estimated Growth, Trends, Size, Share And Analysis 2024-2033
Semiconductor And Related Devices Market
The Business Research Company presents an extensive market research report on the Semiconductor And Related Devices Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The semiconductor and related devices market size has grown strongly in recent years. It will grow from $636.47 billion in 2023 to $691.41 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to consumer electronics demand, automotive industry growth, industrial automation needs, networking and connectivity requirements, renewable energy technologies.
The semiconductor and related devices market size is expected to see strong growth in the next few years. It will grow to $940.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to 5g network deployment, iot and edge computing expansion, electric and autonomous vehicles, ai and machine learning applications, medical electronics and healthcare technologies. Major trends in the forecast period include automotive semiconductor demand, iot and wearable device integration, customized and specialized chips, global collaboration and partnerships, resilience against geopolitical challenges.
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Key Market Players:
Major companies operating in the semiconductor and related devices market report are Samsung Electronics Co. Ltd., Sony Corporation, Taiwan Semiconductor Manufacturing Company Ltd., Intel Corporation, Qualcomm Incorporated, SK Hynix Inc., Broadcom Inc., Micron Technology Inc., Fujitsu Microelectronics Asia Pacific Limited, NVIDIA Corporation, Advanced Micro Devices Inc., Toshiba Corporation, Texas Instruments Incorporated, Western Digital Corporation, MediaTek Inc., STMicroelectronics N.V., Infineon Technologies AG, Transcend Information Inc., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, KLA Corporation, AU Optronics Corp., Semiconductor Manufacturing International Corporation, Marvell Technology Group Ltd., SolarEdge Technologies Inc., Tower Semiconductor Ltd., Mellanox Technologies Ltd., Freescale Semiconductor Limited, ON Semiconductor Corporation, Maxim Integrated Products Inc., Cypress Semiconductor Corporation
Market Drivers:
The rising penetration of mobiles, tablets, and other electronics and rising data consumption drive the semiconductors and related devices market. An increase in sales of electronic devices such as smartphones and tablets lead to an increase in the generation and consumption of digital content and requires memory chips to store data. For instance, in February 2023, according to a report published by Uswitch Limited, a UK-based online and telephone comparison, and switching service, 71.8 million mobile connections were active in 2022, which is an increase of 3.8% from 2021. There will be 68.3 million people living in the UK by 2025, and 95% of them will have smartphones in their hands. Therefore, the increasing use of smartphones is expected to drive the growth of semiconductor and related devices market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/semiconductor-and-related-devices-global-market-report
The semiconductor and related devices market covered in this report is segmented -
1) By Product Type: Integrated Circuits, Memory Chips, Microprocessors, Other Product Types
2) By Type: Intrinsic Semiconductor, Extrinsic Semiconductor
3) By End-Use Industry: Information Technology, Aerospace & Defense, Consumer Electronics, Automotive, Healthcare, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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