Market Insights report
The Semiconductor market is greatly influenced by several end markets, such as automotive, consumer electronics, telecommunication, and industrial equipment markets. Historically, the semiconductor market has a cycle of high and low revenue growth, mainly due to swings in demand. 2023 showed as one of the downturn years of the Semiconductors cycle, with the negative growth lowering the overall market value compared to 2022.
This report provides an overview of the Semiconductors market and includes a range of statistics: The overall market development, a forecast until 2029, worldwide comparison, and more are included for the global Semiconductors market as well as for 4 distinct markets: Integrated Circuits, Optoelectronics, Discrete Semiconductors, and Sensors & Actuators. The revenue of the global Semiconductors market was US$503 billion in 2023 and is expected to reach approximately US$980 billion in 2029.
What's included?
Over the past two decades, the semiconductor market share has significantly shifted from American and European countries to Asian countries due to an increase in electronic equipment production in these countries. Currently, China remains the largest consumer of semiconductors among other countries.
In the Statista Market Insights, we divided the Semiconductors market into the following markets: Integrated Circuits, Optoelectronics, Discrete Semiconductors, and Sensors & Actuators. The revenue of the global Semiconductors market was US$503 billion in 2023 and is expected to reach approximately US$980 billion in 2029. Major players in this industry are Sony Corporation, Intel, and Qualcomm.
Beyond end-markets such as automotive, consumer electronics, telecommunications and industrial equipment, social and economic factors such as gross domestic product (GDP) are also influencing the promising growth of the semiconductor market. A strong GDP increases consumer spending, especially on electronic devices such as smartphones, laptops and appliances. This increase in demand is pushing semiconductor manufacturers to produce advanced chips.
The Semiconductors market is experiencing continuous expansion, with arising new trends year by year. And, as one of the most substantially growing markets in the industry, the Semiconductors market is evidently fueled by these different trends. There are the top four emerging trends mentioned in the report, including 5G, adoption of artificial intelligence (AI), implementation of Internet of Things (IoT), and the autonomous vehicles.
Market Insight
Semiconductors
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