The potential growth difference for the semiconductor market between 2019 and 2024 is USD 90.80 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver - The key factor driving growth in the semiconductor market is the growing adoption of IoT devices. The IoT is a system of interrelated devices or things that are embedded in electronics, software, sensors, platforms, and networks. The increasing implementation of IoT devices across the residential and commercial sectors is driving the demand for sensors, including magnetic sensors. The IoT ecosystem is expanding rapidly, which is driving the implementation of smart devices such as smart security solutions, smart parking management systems, autonomous guided vehicles, autonomous mobile robots, and smart robots. Technavio expects the rising adoption of connected devices by industries such as automotive, industrial, and consumer electronics to have a positive impact on the growth of the global magnetic sensors market.
- Market Challenges - The increasing design complexity of semiconductor components will be a major challenge for the semiconductor market during the forecast period. The growing number of functionalities in consumer electronics, automotive, and other fields has increased the demand for multifunctional ICs. Moreover, the demand for miniaturized electronic devices such as tablets, smartwatches, smartphones, and other electronic devices has increased. These demands have forced semiconductor manufacturers to integrate new and more complex architecture and design of semiconductor ICs.
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Segmentation Analysis
The semiconductor market report is segmented by Product (ICs, optoelectronics, discrete semiconductors, and sensors) and Geography (APAC, North America, Europe, South America, and MEA)
- The semiconductor market share growth by the ICs segment will be significant for revenue generation. The IC segment is further categorized into memory, logic, analog, and micro components. The demand for memory technology stems mainly from the global data center market. The memory chips used in solid-state drives (SSDs) are the most important component in the data center architecture as they help to store and manage data in data centers. The number of data centers is increasing due to higher enterprise computing demands and Internet penetration. This, in turn, will fuel the need for memory chips during the forecast period.
- 76% of the market's growth will originate from APAC during the forecast period. China, South Korea (Republic of Korea), Taiwan, and Singapore are the key markets for semiconductors in APAC. Market growth in this region will be faster than the growth of the market in the European, MEA, and North American regions. The growing demand for semiconductors from the automotive, aerospace, electronic and electrical, and other end-user industries in developing countries such as China and India will facilitate the semiconductor market growth in APAC over the forecast period.
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Some Companies Mentioned
- Broadcom Inc.
- Infineon Technologies AG
- Intel Corp.
- Micron Technology Inc.
- NVIDIA Corp.
- NXP Semiconductors NV
- Qualcomm Inc.
- Samsung Electronics Co. Ltd.
- SK HYNIX Inc.
- and Texas Instruments Inc.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Semiconductor Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4% |
Market growth 2020-2024 |
USD 90.80 billion |
Market structure |
Fragmented |
YoY growth (%) |
-2.68 |
Performing market contribution |
APAC at 76% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Broadcom Inc., Infineon Technologies AG, Intel Corp., Micron Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., Samsung Electronics Co. Ltd., SK HYNIX Inc., and Texas Instruments Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019-2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- ICs - Market size and forecast 2019-2024
- Optoelectronics - Market size and forecast 2019-2024
- Discrete semiconductors - Market size and forecast 2019-2024
- Sensors - Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Volume drivers – Demand led growth
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Broadcom Inc.
- Infineon Technologies AG
- Intel Corp.
- Micron Technology Inc.
- NVIDIA Corp.
- NXP Semiconductors NV
- Qualcomm Inc.
- Samsung Electronics Co. Ltd.
- SK HYNIX Inc.
- Texas Instruments Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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