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Integrated Circuits Global Market Report 2024 Market Key Trends And Forecast Report 2024-2033
Integrated Circuits Global Market Report
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According to The Business Research Company's, The integrated circuits market size has grown strongly in recent years. It will grow from $439.68 billion in 2023 to $480.97 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to digital revolution, consumer electronics, telecommunications growth, automotive electronics, industrial automation.
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.
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Market Drivers and Trends:
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.
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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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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.
Integrated Circuits Market 2024 Key Insights:
• 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%.
• Driving Growth With Internet Of Things (IOT) Adoption In The Integrated Circuits
• 5G Expansion Fuels Demand For Integrated Circuits
• Asia-Pacific was the largest region in the integrated circuits market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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