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High-Reliability Semiconductors Market 2024 - Industry Size, Business Segments, Innovative Strategies And Outlook by 2033
High-Reliability Semiconductors Market
According to The Business Research Company's, The high-reliability semiconductors market size has grown strongly in recent years. It will grow from $3.84 billion in 2023 to $4.04 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to aerospace and defense demand, medical device applications, automotive safety requirements, industrial automation needs, telecommunications infrastructure expansion.
The high-reliability semiconductors market size is expected to see strong growth in the next few years. It will grow to $4.92 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to rise in internet of things (iot) devices, renewable energy applications, advancements in medical technology, expansion of electric vehicles (evs), increased complexity in aerospace systems. Major trends in the forecast period include strategic partnerships for supply chain resilience, enhanced testing standards for high-reliability applications, development of wide-bandgap semiconductors, emphasis on long-term reliability and product lifecycle management, sustainability practices in semiconductor manufacturing.
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Market Drivers and Trends:
The increasing investments in the aerospace sector are expected to propel the growth of the high-reliability semiconductors market going forward. The semiconductors are used to manufacture a wide range of devices and systems, including avionics, engine and flight control systems, safety gear, communication and navigation systems, and missile systems. The increasing investment in aerospace is one of the major factors for the growth of high-reliability semiconductors in the future. For instance, in August 2022, according to an article published by Investment Monitor, aerospace FDI (foreign direct investment) grew by 28% in 2021. FDI Projects Database showed that there were 69 projects in aerospace in 2021, up from 54 the year before. Therefore, the increasing investments in the aerospace sector are driving the growth of the high-reliability semiconductors market.
Focus on online visibility is a key trend gaining popularity in the high-reliability semiconductors market. Companies operating in the high-reliability semiconductors market are adopting online visibility tools to sustain their position in the market, for instance in September 2021, Microwave Techniques LLC, a US-based microwave technology company launched a new website with a focus on high-power semiconductor components such as circulators and isolators. Visitors can find new product information, updated product data, and the most recent details about the capabilities and products on the new website.
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Major Key Players of the Market:
Infineon Technologies AG; Digitron Semiconductors; Microsemi Corporation; Semicoa Corporation; Semtech Corporation; Skyworks Solutions Inc; Teledyne Technologies Inc.; Testime Technology Limited; Texas Instruments Incorporated; Vishay Intertechnology Inc.; KCB Solutions LLC; Toshiba Corporation; ROHM Group; Thermo Fisher Scientific Inc.; Eurofins Scientific; Amkor Technology Inc.; NXP Semiconductors USA Inc.; Intel Corp.; QUALCOMM Inc.; GLOBALFOUNDRIES Inc.; Samsung Austin Semiconductor LLC; Advanced Micro Devices Inc.; Analog Devices Inc.; L3Harris Technologies Inc. ISR Systems; Kyocera Corporation; Enphase Energy; QIAGEN NV; Eaton Corporation plc; Sumitomo Electric Industries Ltd.; Taiyo Yuden Co. Ltd.
High-Reliability Semiconductors Market 2024 Key Insights:
• The high-reliability semiconductors market will grow to $4.92 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
• Surge In High-Reliability Semiconductors Market Within The Aerospace Sector
• Online Visibility In The High-Reliability Semiconductors Market
• Asia-Pacific was the largest region in the high-reliability semiconductors market in 2023
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