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Report Overview
The semiconductor market 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.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The 2022 U.S. Semiconductor Industry Association report states that U.S. semiconductor exports reached $62 billion in 2021.
- The Indian semiconductor market is projected to grow to about $110 billion by 2030, according to the International Trade Administration.
- In 2020 China imported $378 billion worth of semiconductors and assembled 35% of global electronic devices, per the Semiconductor Industry Association.
Global Semiconductor Market Growth
A semiconductor is a material with conductivity between conductors and insulators, crucial for modern electronic devices. There are intrinsic and extrinsic semiconductors, each with different electrical charge-carrying capabilities. They are used in various industries, including computing, telecommunications, aerospace, medical technology, automotive, defence, and robotics, integral to microprocessors, transistors, diodes, and integrated circuits (ICs).
The growing demand for advanced smartphones, tablets, laptops, and other electronics drives the semiconductor market. Increased data generation boosts the need for robust data centres, while advancements in electric vehicles (EVs) and autonomous driving also elevate semiconductor requirements.
According to the 2022 State of the U.S. Semiconductor Industry Association report, U.S. semiconductor exports hit $62 billion in 2021, making them the fourth largest U.S. export. The industry also supported 1.84 million jobs in the U.S. in 2021, significantly boosting the country's semiconductor market growth.
Semiconductor Market Report Snapshots
Semiconductor Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 625.05 billion in 2023.
The market is projected to grow at a CAGR of 7.7% between 2024 and 2032.
The revenue generated from the semiconductor market is expected to reach USD 1251.58 billion in 2032.
Technological advancements, growing consumer electronics demand, environmental concerns and defence and aerospace are the major trends impacting the semiconductor market trends.
The semiconductor market is categorised according to the components, which include memory devices, logic devices, analogue IC, OSD and microcomponents.
The key players are Intel Corporation (NASDAQ: INTC), Samsung Electronics Co., Ltd., Texas Instruments, Nvidia Corporation, Micron Technology, Inc. (NASDAQ: MU), Qualcomm Technologies, Inc. (NASDAQ: QCOM), SK Hynix Inc. (KRX: 000660), Taiwan Semiconductor Manufacturing Company Limited, Broadcom Inc., MediaTek Inc., and NXP Semiconductors N.V. among others.
Based on the application, the market is divided into automotive, industrial, data centre, telecommunication, consumer electronics, aerospace and defence, healthcare, and others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The Asia-Pacific region is the fastest-growing region in the global semiconductor market, driven by technological advancements, and the surging demand for consumer electronics.
The top five companies in the semiconductor market are Intel Corporation (NASDAQ: INTC), Samsung Electronics Co., Ltd., Texas Instruments, Nvidia Corporation, and Micron Technology, Inc. (NASDAQ: MU).
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124