Semiconductors - Worldwide | Statista Market Forecast

Revenue in the Semiconductors market is projected to reach US$607.40bn in 2024.
Integrated Circuits dominates the market with a projected market volume of US$515.00bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.06%, resulting in a market volume of US$980.80bn by 2029.
In global comparison, most revenue will be generated China (US$177.80bn in 2024).

Definition:

Semiconductors are the crucial building blocks of all the electronics we see daily. The semiconductor industry comprises companies that design, fabricate, assemble, test, and supply semiconductors that are suitable for various applications. The semiconductor market represents the market size of the semiconductors used in various electronics applications.

Structure:

The semiconductor market is structured into four different markets based on the functionality of the semiconductors as follows:

The Discrete Semiconductors market represents the semiconductors that have a basic function and are mostly built using a single semiconductor device. These are further used in an application in conjunction with other semiconductors.
The Integrated Circuits market is the largest market and represents the semiconductors that have specific functionality. They generally consist of several basic semiconductor devices. This market is further divided into Analog Integrated Circuits, Logic Integrated Circuits, Memory Integrated Circuits, and Micro Integrated Circuits.
The Optoelectronics market represents the semiconductors that have functionality related to light.
The last market Sensors & Actuators represents the semiconductors that sense real-world factors and those that actuate other devices.

Additional Information:

The semiconductor market comprises revenue, revenue change, and key player market shares as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Further definitions of the markets can be found on respective pages.

Key players in this market include Samsung, Intel, SK Hynix, Qualcomm, Micron, etc.,

For more information on the displayed data, use the info button right next to the boxes.

Discrete semiconductors such as diodes, transistors, and resistors
Integrated circuits such as DRAM, microprocessors, analog to digital converters
Optoelectronics such as LEDs, laser diodes
Sensors and actuators such as image sensors, temperature sensors

Silicon wafers
Semiconductor foundry services

The Semiconductors market in Worldwide is experiencing significant growth and development due to various factors.

Customer preferences: Customers in the Semiconductors market in Worldwide are increasingly demanding more advanced and efficient semiconductor products. They are looking for semiconductors that offer higher performance, lower power consumption, and smaller form factors. This is driven by the increasing use of semiconductors in various industries such as electronics, automotive, telecommunications, and healthcare. Customers also value semiconductors that are reliable and have a long lifespan, as they want to minimize the need for frequent replacements or repairs.

Trends in the market: One of the key trends in the Semiconductors market in Worldwide is the growing demand for Internet of Things (IoT) devices. IoT devices require semiconductors with low power consumption and connectivity capabilities to enable seamless communication between devices. As the adoption of IoT devices continues to rise, the demand for semiconductors that can support these devices is also increasing. Another trend in the market is the shift towards artificial intelligence (AI) and machine learning (ML) technologies. AI and ML applications require high-performance semiconductors with advanced processing capabilities. As businesses and industries increasingly integrate AI and ML into their operations, the demand for semiconductors that can support these technologies is growing.

Local special circumstances: In addition to global trends, there are also local special circumstances that are influencing the development of the Semiconductors market in Worldwide. One such circumstance is the presence of a strong manufacturing base in certain countries, such as China and South Korea. These countries have invested heavily in semiconductor manufacturing facilities, which has led to increased production capacity and competitiveness in the market. Another local special circumstance is the presence of a highly skilled workforce in certain regions. Countries like the United States and Taiwan have a strong talent pool of engineers and researchers specializing in semiconductor technology. This has contributed to the development of innovative semiconductor products and technologies, further driving the growth of the market.

Underlying macroeconomic factors: Several macroeconomic factors are contributing to the growth and development of the Semiconductors market in Worldwide. One such factor is the increasing digitization of economies and societies. As more industries and businesses adopt digital technologies, the demand for semiconductors to power these technologies is rising. Another macroeconomic factor is the rapid urbanization and population growth in many countries. This is driving the demand for consumer electronics, such as smartphones and tablets, which rely heavily on semiconductors. Additionally, the automotive industry is experiencing a shift towards electric vehicles, which also require advanced semiconductor technology. Overall, the Semiconductors market in Worldwide is witnessing significant growth and development driven by customer preferences for advanced and efficient semiconductor products, global trends such as IoT and AI, local special circumstances like strong manufacturing bases and skilled workforces, and underlying macroeconomic factors such as digitization and population growth.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at the manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use the annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Governments and companies across the entire semiconductor value chain have had to navigate changing demands, supply chain imbalances, and geopolitical factors in recent times. As a result, action plans and policies have had to be established to safeguard the supply of semiconductors. In 2024, global semiconductor sales are expected to surpass 600 billion U.S. dollars, a jump from the previous year as the industry reaps the rewards from the artificial intelligence (AI) revolution sweeping across the world.