Taiwan Semiconductor Market to Reach USD 66.06 Billion by 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Taiwan Semiconductors Market Size, Share & Trends Analysis Report By Component (Memory Devices, Logic Devices, Analog IC, MPU, Discrete Power Devices, MCU, Sensors, and Others), By Application (Networking & Communications, Data Processing, Industrial, Consumer Electronics, Automotive, and Government), Market Outlook And Industry Analysis 2031"

The Taiwan Semiconductors market is estimated to reach over USD 66.06 billion by 2031, exhibiting a CAGR of 5.8% during the forecast period.

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Integrated circuits and wafer semiconductor devices are produced and sold by Taiwan Semiconductor Manufacturing Co., Ltd. Its chips are used in consumer electronics like digital video compact disc players, digital televisions, game consoles, and digital cameras as well as in personal computers and peripherals, information applications, wired and wireless communications systems, and automotive and industrial equipment. Taiwan has emerged as one of the most competitive industry competitors for both advanced and mature process technologies. Despite its well-known position as the global leader in semiconductor manufacturing.

Taiwan's semiconductor industry is expected to grow faster due to the growth of emerging applications such as AIoT, 5G, and high-performance computing, as well as the advantage of the most advanced technology in the field and continuous full production capacity.

List of Prominent Players in the Taiwan Semiconductors Market:
• Taiwan Semiconductor Manufacturing Company Limited
• ASE Technology
• AU Optronics
• MediaTek
• LITE-ON Technology
• United Microelectronics
• Nanya Technology
• Siliconware Precision Industries Co., Ltd. (SPIL)
• EDOM Technology
• Sino-American Silicon Products
• MediaTek Inc.
• Realtek Semiconductor Corp
• Episil Technologies Inc.
• WIN Semiconductors Corp.
• Nuvoton Technology Corporation
• Macronix International Co., Ltd.
• Powerchip Semiconductor Manufacturing Corporation
• Winbond
• Sitronix Technology Corp.
• Fitipower Integrated Tech
• Elite Semiconductor Microelectronics Technology Inc.
• Raydium Corp.
• Silicon Motion Technology Corporation
• Himax Technologies, Inc.
• Phison Electronics Corporation
• United Microelectronics Corporation
• Chipbond Technology Corp
• ChipMOS TECHNOLOGIES

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Market Dynamics:
Drivers-
It is anticipated that the semiconductor industry will maintain its strong growth during the forecast period in order to meet the rising demand for semiconductor materials in emerging technologies like artificial intelligence (AI), autonomous driving, the Internet of Things, and 5G, as well as competition among major players and consistent spending on R&D. Furthermore, semiconductor applications and demand are expanding across nearly all industry verticals due to industrial automation, ongoing improvements in consumer electronics, and the usage of sensors in vehicles. The market is expanding largely due to a greater focus on consumer electronics. The increasing use of smartphones and other consumer goods, which results in more investment on process equipment, is another element aiding in acquiring a competitive edge.

Challenges:
The prime challenge was during COVID-19. Since the start of COVID-19 in early 2020, the sector has encountered a number of difficulties in sustaining steady growth. The U.S.-China trade war and 2019's economic downturn are helping the whole technology sector to rebound. The Taiwan semiconductor sector is expected to experience revenue reduction of about 6% in 2020 (with a 54% likelihood), according to the International Data Corporation (IDC). The abrupt COVID-19 epidemic in Wuhan, China, commonly known as the "motor city," which is home to auto facilities for General Motors, Honda, Nissan, Peugeot Group (PSA), Renault, and Toyota, has negatively impacted Asian automotive output.

Recent Developments:
• In June 2023, Taiwan Semiconductor Manufacturing Co. and Purdue University's Center for Secure Microelectronics Ecosystem renewed their strong relationship, which helped Purdue University improve the semiconductor workforce. The fact that TSMC's membership in CSME has been renewed shows that both groups want to work together on more worker development and study projects until 2031. Starting in 2021, CSME was the first global partnership of its kind between the university, industry, TSMC, and the government. Its goal was to improve research and training for creating safe microelectronics.
• In Dec 2022, TSMC organized a 3nm Volume Production and Capacity Development Ceremony at its Fab 18 new construction site in the Southern Taiwan Science Park (STSP). The ceremony brought together suppliers, construction partners, central and local government, the Taiwan Semiconductor Industry Association, and members of academia to recognize an essential step in the company's advanced manufacturing.
• In May 2022, AUO Corporation, NVIDIA, and ASUS ROG announced the release of the world's* fastest refresh rate monitor, a 24.1-inch ROG Swift 500Hz Esports display. Combining AUO's gaming-dedicated E-TN (Esports TN) technology with NVIDIA Reflex Analyzer, the new 500Hz panel ensures that games deliver crisp, clear, and fluid images for the ultimate lag-free rapid-fire gaming experience.

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Segmentation of Taiwan Semiconductors Market-
By Component-
• Mobile Devices
• Logic Devices
• Analog IC
• MPU
• Discrete power devices
• MCU
• Sensors
• Others
By Application-
• Networking & Communications
• Data Processing
• Industrial
• Consumer Electronics
• Automotive
• Government

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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

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This release was published on openPR.