Semiconductors

Revenue in the Semiconductors market is projected to reach US$136.50bn in 2024.
Integrated Circuits dominates the market with a projected market volume of US$124.20bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.74%, resulting in a market volume of US$217.40bn 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 North America is experiencing significant growth due to several key factors.

Customer preferences: Customers in North America have a strong preference for high-quality and innovative semiconductor products. They are willing to pay a premium for cutting-edge technology that offers improved performance and energy efficiency. Additionally, customers in this region value reliability and durability, as they expect their electronic devices to have a long lifespan.

Trends in the market: One of the major trends in the Semiconductors market in North America is the increasing demand for semiconductors in the automotive industry. With the rise of electric vehicles and autonomous driving technologies, there is a growing need for advanced semiconductors that can support these innovations. This trend is driven by the increasing consumer demand for electric vehicles and the efforts of automakers to develop more sophisticated and efficient vehicles. Another trend in the market is the growing adoption of Internet of Things (IoT) devices. These devices, which include smart home appliances, wearable devices, and industrial sensors, rely on semiconductors to enable connectivity and data processing. As the IoT market continues to expand, the demand for semiconductors is expected to increase significantly.

Local special circumstances: North America is home to several major semiconductor companies, as well as leading technology companies that require semiconductors for their products. This concentration of industry players creates a competitive environment that drives innovation and product development. Additionally, the region has a strong ecosystem of research and development institutions, which further supports the growth of the semiconductor industry.

Underlying macroeconomic factors: The strong economic growth in North America is fueling the demand for semiconductors. As the economy expands, businesses and consumers are investing in new technologies and electronic devices, which drives the need for semiconductors. Additionally, the region has a high disposable income, which allows consumers to purchase high-end electronic products that require advanced semiconductors. Furthermore, government initiatives and policies aimed at promoting innovation and technological advancements are also contributing to the growth of the semiconductor market in North America. These initiatives include funding for research and development, tax incentives for technology companies, and support for emerging technologies such as artificial intelligence and 5G. In conclusion, the Semiconductors market in North America is experiencing growth due to customer preferences for high-quality and innovative products, as well as the increasing demand from the automotive and IoT industries. The concentration of industry players and strong economic growth in the region, along with government support for innovation, are also contributing factors to the market's development.

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 surpassed 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.