Press release
Global Semiconductor Market Size, Share, Growth and Forecast by Components, Material Used, End User, and Region, 2025-2033
Study Assumption Years
Base Year: 2024
Historical Year/Period: 2019-2024
Forecast Year/Period: 2025-2033
Semiconductor Market Key Takeaways
Current Market Size: USD 694.0 Billion in 2024
CAGR: 6.48% during 2025-2033
Forecast Period: 2025-2033
Asia-Pacific dominated the market in 2024, accounting for 63.8% share due to manufacturing strength, demand, and government support.
Increasing demand for consumer electronics, electric vehicles, and 5G network deployment are key growth drivers.
Governments and companies are investing heavily in semiconductor research, local manufacturing, and supply chain resilience.
The rise of electric vehicles worldwide, AI innovation, and the expansion of high-performance computing bolster semiconductor demand.
Strategic collaborations, such as US-India partnerships and government funding initiatives, further stimulate market growth.
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Market Growth Factors
The global semiconductor market growth is driven first by the rising demand for advanced consumer electronics. Increasing usage of smartphones, tablets, wearable devices, and smart home technologies seeks faster, more efficient, and feature-rich semiconductors. The adoption of 5G technology worldwide further accelerates chip demand. Components like logic devices are increasingly important due to developments in AI, machine learning, and big data analytics, enabling more complex computing operations.
Secondly, the automotive sector significantly fuels market expansion, especially with the transition toward electric vehicles (EVs) and autonomous driving. The worldwide electric car count exceeded 40 million in 2023, up from 26 million in 2022. Semiconductors manage power distribution, battery performance, and vehicle efficiency, thus becoming vital. The automotive industry's shift to electrification drives the need for silicon carbide power semiconductors with high efficiency and thermal capacity.
Thirdly, increased investments in research and development (R&D) are fostering innovation. For example, Samsung's new semiconductor R&D center in Bengaluru and Foxconn's planned investment in India highlight this trend. Governments also promote local semiconductor manufacturing to reduce import reliance and strengthen supply chains, as seen in initiatives by the Indian government approving new manufacturing units with the Tata Group. These efforts enhance technological sovereignty and competitiveness.
Market Segmentation
By Components:
Memory Devices
Logic Devices
Analog IC
MPU
Discrete Power Devices
MCU
Sensors
Others
Logic devices dominate in 2024 as the core of computing and processing systems, essential for AI, IoT, smartphones, data centers, and autonomous vehicles. Continuous R&D aims to improve efficiency and reduce power consumption.
By Material Used:
Silicon Carbide
Gallium Manganese Arsenide
Copper Indium Gallium Selenide
Molybdenum Disulfide
Others
Silicon carbide leads the segment due to outstanding thermal conductivity, high breakdown voltage, and suitability for EVs, renewable energy, and industrial applications. It enables better energy efficiency and performance in harsh conditions.
By End User:
Automotive
Industrial
Data Centre
Telecommunication
Consumer Electronics
Aerospace and Defense
Healthcare
Others
Consumer electronics lead with 62.2% market share in 2024, driven by high demand for handsets, computers, tablets, and gaming consoles requiring advanced, energy-efficient semiconductors. Smart home technology and AI-driven gadgets further boost this segment.
Regional Insights
Asia-Pacific dominates the semiconductor market with 63.8% share in 2024, supported by its strong manufacturing base, high demand, and government initiatives. The region benefits from modern infrastructure, skilled labor, and low-cost production. Leading countries like China, South Korea, and Taiwan drive growth through rapid expansion in consumer electronics, automotive, and telecom sectors, alongside 5G and AI adoption.
Recent Developments & News
May 2024: Mindgrove Technologies launched Secure IoT, India's first semiconductor SoC for IoT devices, supporting wearables, smart cities, and EV battery management.
May 2024: Micron Technology's Sanand factory in Gujarat will produce semiconductor chips mainly for export by mid-2025.
April 2024: indie Semiconductor, Inc. introduced high-performance video converters for in-cabin vehicle connectivity.
February 2024: Samsung inaugurated a semiconductor R&D facility in Bengaluru, India.
February 2024: Indian government approved three new semiconductor manufacturing units in partnership with Tata Group.
Key Players
Broadcom Inc.
Infineon Technologies AG
Intel Corporation
Micron Technology Inc.
NXP Semiconductors N.V.
Renesas Electronics Corporation
Samsung Electronics Co. Ltd.
SK hynix Inc.
STMicroelectronics N.V.
Taiwan Semiconductor Manufacturing Company Limited
Texas Instruments Incorporated
Toshiba Electronic Devices & Storage Corporation (Toshiba Corporation)
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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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