September 01, 2022 10:19 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The growth of this market is attributed to the increasing consumption of consumer electronics devices across the globe. Additionally, new potential for market expansion is being presented by the development of artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML) technologies. Thanks to these innovations, memory chips can process vast volumes of data more quickly. Additionally, throughout the course of the projected period, the market expansion will be driven by the rising need for faster and more sophisticated memory chips in industrial applications. The Global Market revenue was valued at USD 429.5 Billion in 2021.
The Global Semiconductor Market size is forecast to reach USD 712.4 Billion by the year 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 8.8% during the forecast period; states Vantage Market Research, in a report, titled “Semiconductor Market Size, Share & Trends Analysis Report by Components (Memory Devices, Logic Devices, Analog IC, Microprocessor Unit), by Applications (Networking & Communications, Data Processing, Industrial, Consumer Electronics), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
Key Industry Findings & Insights from the report:
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Escalating Implementation of IoT, AI, and Wireless Communications
Global demand for Artificial Intelligence (AI), the Internet of Things (IoT), and wirelessly connected devices is skyrocketing as a result of technological advancements. For instance, Micron Technology Inc. provides multi-chip packages with high-capacity memory and AI training that is used in mobile, cloud-based edge devices, and embedded devices. Most of these new discoveries come with a single system on a chip (SoC) to provide high levels of integration. As it combines processors, memory, Radio Frequency (RF) transceivers, sensors, power management, and networking in a single component, SoC also enables the devices to function with high power efficiency and increased security.
Rising Consumption of Consumer Electronics Goods
Rapid population growth, rising household disposable income, and increased urbanization contribute to the enormous demand for fundamental and cutting-edge consumer electronics products. For effective and suitable operation, Integrated Circuit (IC) chips are found in various electronic gadgets, including cellphones, washing machines, TVs, and refrigerators. To meet the growing customer demand for cutting-edge devices and promote the market's expansion, several top consumer electronics companies, including Samsung, Apple, and Huawei, are investing heavily in the development of new products.
Increasing Demand for Integrated Circuits in Developing Economies
Due to the existing manufacturing and assembly facilities of numerous well-known smartphone manufacturers, like Apple and OnePlus, China is predicted to experience considerable demand for mobile CPUs. The number of Taiwanese personal computer manufacturers and their growing investments in research and development further show that Taiwan's industry is seeing tremendous expansion. Additionally, the nation is recognized for producing integrated circuits that are small and driven by cutting-edge technology, providing the market with lucrative growth opportunities.
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The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the manufacturing industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020.
Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
The report on Semiconductor Market highlights:
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Asia Pacific is expected to dominate the growth of Semiconductor Market in 2021. Asia Pacific held the largest market share and is expected to expand at the fastest rate worldwide. Consumer electronics consumption is expanding as a result of the growing use of high-end technology-based gadgets and falling prices for electronics. Additionally, the region is able to control a large portion of the market because of technical developments like IoT and LTE that assist electronics products.
List of Prominent Players in Semiconductor Market:
Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on "Semiconductor Market Size, Share & Trends Analysis Report by Components (Memory Devices, Logic Devices, Analog IC, Microprocessor Unit), by Applications (Networking & Communications, Data Processing, Industrial, Consumer Electronics), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
September 2021: Toshiba Electronic Devices & Storage Corporation launched a newM4G Group of Arm Cortex-M4 Microcontrollers for high-speed data processing products in the TXZ+TM Family Advanced Class.
February 2020: Toshiba Electronic Devices and Storage Corporation launched TC78H670FTG, the latest addition to its micro-stepping integrated circuit portfolio. This new IC will drive a 128 micro-stepping motor within the power range of 2.5V to 16V.
Key Questions Answered in The Report:
This market titled “Semiconductor Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
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