Press release
Integrated Circuits Global Market Report 2024 - By Growth, Size, Share, Report, Forecast To 2033
Integrated Circuits Market
The integrated circuits market size is expected to see strong growth in the next few years. It will grow to $675.85 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to artificial intelligence (ai) and machine learning, 5g and iot expansion, autonomous vehicles, quantum computing, healthcare and medical devices. Major trends in the forecast period include miniaturization and advanced packaging, heterogeneous integration, energy-efficient ics, security and encryption, custom ic design.
Market Overview -
An integrated circuit is a small chip that acts as an amplifier, an oscillator, a timer, and a memory computer. An integrated circuit is a small wafer that can accommodate hundreds to millions of transistors, resistors, and capacitors. Integrated circuits are used in various applications such as automobiles, telecommunication, aerospace and defense, and consumer electronics.
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Driving Growth With Internet Of Things (IOT) Adoption In The Integrated Circuits
The increasing adoption of the Internet of things (IoT) is expected to drive the integrated circuits (ICs) market in the forecast period. ICs allow us to sense, understand, and transmit intelligent data. IoT is expected to boost the growth of the integrated circuit market due to various benefits of using analog ICs across a wide range of real-time connected devices and applications. Analog ICs have efficient power consumption features and the signals processing capabilities needed to configure an automated devices ecosystem. For instance, according to the Gartner Symposium, there are 25 billion internet-connected devices in 2021. Each of these devices required ICs that contain embedded technology to communicate and sense or interact with the environment. Therefore, increasing the adoption of IoT devices will increase the demand for ICs and hence it is expected to drive growth of the integrated circuits market.
Competitive Landscape -
Major companies operating in the integrated circuits market include Intel Corporation, Texas Instruments, Analog Devices, STMicroelectronics, NXP semiconductors, ON Semiconductor, Micron, Toshiba, Broadcom, Qualcomm, Maxim Integrated, Intersil Corporation, Cypress, Microchip, Integrated Device Technology, Omron, Advanced Electronic Components & Solution, Epson, Diodes, Infineon, New Japan Radio Co. Ltd., Boeing, Atmel Corporation, Nippon Electric Company, Samsung, Taiwan Semiconductor, SK Hynix, Nvidia, Renesas Electronics Corporation, MediaTek Inc., Xilinx Inc., Cypress Semiconductor Corporation, Advanced Micro Devices Inc., Marvell Technology Group Ltd., Silicon Laboratories Inc., Microchip Technology Inc., Cirrus Logic Inc., Dialog Semiconductor PLC, Semtech Corporation, Lattice Semiconductor Corporation, Monolithic Power Systems Inc., Power Integrations Inc.
5G Expansion Fuels Demand For Integrated Circuits
Increased use of next-generation mobile networks, such as 4G and 5G, requires the installation of new infrastructure. Chipsets such as radio frequency integrated circuits, system on chips, application specific integrated circuits, cellular integrated circuits, and millimeter-wave integrated circuits are mainly used in the development of 5G infrastructure, which creates a high demand for integrated circuits. Deployment of 5G as the demand driver that will require semiconductors for infrastructure is rose the revenue of semiconductors for premium smartphones from 15,466 million in 2021 to 18,734 million in 2022.
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Key Segments -
The integrated circuits market covered in this report is segmented -
1) By Type: General-purpose IC, Application-specific IC
2) By Application: Automotive, Industrial, Consumer Electronics, IT & Telecommunication, Health Care, Aerospace & Defense, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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