Consumer Electronics Demand Fueling Semiconductor And Other Components Market Growth: A Key Catalyst Accelerating Semiconductor And Other Electronic Component Market Growth in 2025

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Semiconductor And Other Electronic Component Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for semiconductors and other electronic components has seen considerable growth in the past few years. The market value is forecasted to rise from $1074.31 billion in 2024 to $1178.79 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.7%. This historical growth could stem from technological developments, consumer electronics, data centres, Internet of Things (IoT) and Industry 4.0.

Semiconductor And Other Electronic Component Market Size Forecast: What's the Projected Valuation by 2029?
The market size for semiconductors and other electronic components is anticipated to experience robust expansion in the forthcoming years. It's projected to reach $1659.77 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.9%. This anticipated growth during the forecast period can be attributed to factors such as 5G and future developments, artificial intelligence (AI), semiconductor shortages, green technology, as well as environmental and regulatory elements. Key trends during this projected period include advancing electrification and lightweighting, the use of novel materials, additive manufacturing, digitalisation and connectivity, and collaborations and partnerships.

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What Are the Drivers Transforming the Semiconductor And Other Electronic Component Market?
The growing need for consumer electronics is anticipated to boost the semiconductor and other components market's expansion. Consumer electronics are any electronic devices created for daily, personal, or professional use by consumers or end-users. The building blocks of these electronics are semiconductor components that provide processing power, storage, internet connectivity, and particular features, making these devices adaptable, effective, and able to cater to contemporary consumer needs. For instance, LG, a South Korean consumer electronics corporation, reported through the annual financial report 2022 in January 2023, that it achieved record-breaking total revenue, surpassing $60 billion in 2022, marking a growth of 12.9% compared to 2021, when sales first exceeded approximately $52.70 billion. As a result, the escalating demand for consumer electronics propels the growth of the semiconductor and other components market.

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What Long-Term Trends Will Define the Future of the Semiconductor And Other Electronic Component Market?
Leading firms in the semiconductor and other components market are leveraging advanced technologies such as control meta surface technology to bolster their market revenues. Light Control Meta surface (LCM) technology, a patented beam-steering technology used in solid-state optical semiconductors, is one such example. In August 2023, Lumotive, a US company that manufactures semiconductors, unveiled LM10, their first full production offering enabled with Light Control Meta surface (LCM) technology. Hailed as the world's first digital beam steering solution, it boasts impressive performance, a compact design, and software-defined scan modes. These features enable precise object detection, shape recognition, and heightened safety in industrial robotics applications, thereby pushing the industry towards new horizons of efficiency and productivity.

Which Segments in the Semiconductor And Other Electronic Component Market Offer the Most Profit Potential?
The semiconductor and other electronic component market covered in this report is segmented -

1) By Type: Semiconductor And Related Devices, General Electronic Components
2) By Mode: Online, Offline
3) By Sales Channel: OEM, After market
4) By Application: Automotive, Manufacturing, Other Applications

Subsegments:
1) By Semiconductor And Related Devices: Integrated Circuits (ICs), Diodes, Transistors, Memory Chips, Optoelectronics, Power Semiconductors, Sensors And Actuators
2) By General Electronic Components: Capacitors, Resistors, Inductors, Connectors, Switches, Relays, Oscillators, Circuit Boards (PCBs)

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Which Firms Dominate the Semiconductor And Other Electronic Component Market by Market Share and Revenue in 2025?
Major companies operating in the semiconductor and other electronic component market include Samsung Electronics Co. Ltd., Taiwan Semiconductor Manufacturing Company Limited, SK Hynix Inc., Qualcomm Incorporated, Micron Technology Inc., LG Display Co. Ltd., Intel Corporation, Hon Hai Precision Industry Co. Ltd., Broadcom Inc., Advanced Semiconductor Engineering Inc., Texas Instruments Inc., Toshiba Corporation, Infineon Technologies AG, STMicroelectronics NV, NXP Semiconductors NV, Analog Devices Inc., Renesas Electronics Corporation, MediaTek Inc., ON Semiconductor Corporation, Amkor Technology Inc., Marvell Technology Inc., Advanced Micro Devices Inc., NVIDIA Corporation, Cypress Semiconductor Corporation, Silicon Laboratories Inc., Microchip Technology Inc., Integrated Device Technology Inc., Cirrus Logic Inc., Semtech Corporation, Lattice Semiconductor Corporation, Monolithic Power Systems Inc., Power Integrations Inc.

Which Regions Offer the Highest Growth Potential in the Semiconductor And Other Electronic Component Market?
Asia-Pacific was the largest region in the semiconductor and other electronic component market in 2023. North America was the second largest region in the semiconductor and other electronic component market. The regions covered in the semiconductor and other electronic component market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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