Expert Market Research Explored the Top 10 Companies in the Global Semiconductor Market

Intel Corporation, Micron Technology, Inc., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., SK Hynix Inc., Taiwan Semiconductor Manufacturing Company Limited, Broadcom Inc., MediaTek Inc., Texas Instruments, NXP Semiconductors N.V., and Nvidia Corporation among others are the major players in the global semiconductor market.

The semiconductor market size reached a value of approximately USD 625.05 billion in 2023. The market is projected to grow at a CAGR of 7.7%% between 2024 and 2032, reaching a value of around USD 1251.58 billion by 2032. As per the analysis by Expert Market Research, the market is driven by the growing demand for consumer electronics.

Semiconductors form the foundation of modern technologies and are used in billions of devices worldwide. They are used in communication and computing in devices like digital cameras, radios, scanners and computers/laptops, diodes, and RF transmitters among many others. In healthcare, they are used in hearing aids, MRIs, and pacemakers, while in transportation they are used in mapping and navigation systems.

The main driver of the semiconductor market growth is the widespread use of semiconductors in a variety of end-use applications, including data processing, networking and communications, automotive, industrial equipment, and electronics. The market is also expanding due to the increasing global usage of different consumer devices and the increasing penetration of digital technology. The demand for semiconductors is predicted to rise globally due to the world's rising urbanization and industrialization as well as government investments in smart cities.

The semiconductor industry has a lot of potential because of autonomous vehicles. For these vehicles to function, advanced sensors, CPUs, and other semiconductor parts are needed. The development of Vehicle-to-Everything (V2X) connectivity, Advanced Driver Assistance Systems (ADAS), Electric Vehicles (EVs), and in-car infotainment systems all contribute to the increased demand for semiconductors.

In June 2024, Black Semiconductor, a startup working in the semiconductor space raised EUR 254.4 million in public and private funding in a bid to enhance research and development through the construction of a production facility in Aachen, Germany. Pall Corporation, recently, opened a new USD 150 million facility to manufacture semiconductor chips. The aim is to produce advanced node semiconductor chips in a bid to meet rising demand within the semiconductor industry. Also, in January 2024, South Korea invested USD 470 billion in a bid to build the largest semiconductor cluster in the world in Gyeonggi Province over a span of 23 years. Through this, South Korea aims to increase its self-sufficiency in essential materials, equipment and parts which are required to produce chips and increase production by 50% by 2030.

Top 10 Semiconductor Companies in the World:

Intel Corporation

Intel is a global leader in fields like cloud-to-edge technology, artificial intelligence, and analytics. The company announced a total revenue of USD 63 billion in 2022 with investments in research and development estimated to be at USD 17.5 billion. With over 131,000 employees working in 65 countries, the internal factory network at Intel helps them design, build and sell their semiconductor chips to customers. Among the major semiconductors that Intel manufactures are the Central processing units, Graphics processing units, Field-programmable gate arrays, and Application-specific integrated circuits.

Micron Technology, Inc.

Micron Technology, Inc. started as a semiconductor design company in a basement in Idaho, and its product portfolio includes DRAM components (dynamic random-access memory), DRAM modules, Graphics memory, SSD, Managed NAND and NOR flash among others. The company has a workforce of over 40,000 team members with a presence in 17 countries. It specialises in delivering memory and storage systems to businesses encompassing many applications and possibilities.

Qualcomm Technologies, Inc.

A company of inventors with diverse skills and backgrounds, Qualcomm Technologies, Inc. has over 170 offices in more than 30 countries across the world. The company aims at connecting the world, where the semiconductors produced by Qualcomm are used in mobile devices such as smartphones, laptops, tablets and VR devices. Their semiconductors are also used in audio devices, cameras, smart home appliances, and even for improved Wi-Fi and cellular connectivity.

Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. is one of the world’s biggest electronics and technology companies. The company takes pride in its massive product and technology offerings in the form of smartphones, TVs, digital appliances, network systems, semiconductors, medical devices, and other solutions. The semiconductor range at Samsung includes Exynos 2400, Portable SSD T9, LPCAMM2, GDDR7, and others.

SK Hynix Inc.

SK Hynix Inc. is one of the world's leading memory semiconductor manufacturers. The company understand the role semiconductors play in the world and emphasizes the importance of performance in their final products. The company has a comprehensive product portfolio in semiconductors based on applications in servers, networking, mobile, PC, automotive, consumer and artificial intelligence. As a member of SK Group in South Korea, the company had a revenue of KRW 32,766 billion as of 2023.

Nvidia Corporation

Nvidia Corporation has been pioneering computing and technology since its inception in 1993. The company invented the GPU (graphics processing unit) in 1999, which revolutionized the PC gaming industry. The company innovates and manufactures the most advanced semiconductors and software for artificial intelligence and digitalization in the healthcare and automotive industry.

Broadcom Inc.

Broadcom was built on over 60 years of collective experience, collaboration and innovative ingenuity to provide solutions to businesses in a wide range of industries such as automotive, enterprise security and software solutions, cybersecurity, industrial networking and ethernet, medical systems and equipment among others. The company has a diverse semiconductors product portfolio including cable modems, Ethernet NICs, ASIC, filters and amplifiers, and switches and routers.

MediaTek Inc.

MediaTek Inc. designs and sells semiconductors while outsourcing its manufacturing to third-party semiconductor foundries. The production of close to 2 billion consumer products across the world is facilitated by MediaTek Inc. since the company leads the market for making power-efficient systems in chips for electronic devices, automotive, home entertainment and mobile devices. The company expands individuals' horizons by helping individuals connect to the world around them.

Texas Instruments

Texas Instruments is a major global semiconductor manufacturer and designer of processing chips which they also test for and embed into various devices and electronics. The company has close to 34,000 employees working across the globe to efficiently manage power and data and provide processing prowess across industries spanning automotive, personal electronics, enterprise systems, and communication equipment. The company is focused on making accessible, affordable and efficient semiconductors opening new markets for semiconductors to tap.

NXP Semiconductors N.V.

NXP Semiconductors N.V. has more than 34,500 employees working across 30 countries and reported a revenue of USD 13.21 billion in 2022. The company aims to provide smarter, safer and more sustainable solutions through digitally and technologically enhanced microprocessors and semiconductors. It provides solutions in communication infrastructure, automotive, smart city and smart home domains through the Internet of Things (IoT) and also in the industrial sector through simplified machine learning solutions.