Semiconductor And Related Devices Market Growth Trajectory Through 2024-2033

The Semiconductor And Related Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Semiconductor And Related Devices Global Market Report 2024, The semiconductor and related devices market size has grown strongly in recent years. It will grow from $636.47 billion in 2023 to $691.41 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to consumer electronics demand, automotive industry growth, industrial automation needs, networking and connectivity requirements, renewable energy technologies.

The semiconductor and related devices market size is expected to see strong growth in the next few years. It will grow to $940.96 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to 5g network deployment, iot and edge computing expansion, electric and autonomous vehicles, ai and machine learning applications, medical electronics and healthcare technologies. Major trends in the forecast period include automotive semiconductor demand, iot and wearable device integration, customized and specialized chips, global collaboration and partnerships, resilience against geopolitical challenges.

The rising penetration of mobiles, tablets, and other electronics and rising data consumption drive the semiconductors and related devices market. An increase in sales of electronic devices such as smartphones and tablets lead to an increase in the generation and consumption of digital content and requires memory chips to store data. For instance, in February 2023, according to a report published by Uswitch Limited, a UK-based online and telephone comparison, and switching service, 71.8 million mobile connections were active in 2022, which is an increase of 3.8% from 2021. There will be 68.3 million people living in the UK by 2025, and 95% of them will have smartphones in their hands. Therefore, the increasing use of smartphones is expected to drive the growth of semiconductor and related devices market.

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The semiconductor and related devices market covered in this report is segmented –

1) By Product Type: Integrated Circuits, Memory Chips, Microprocessors, Other Product Types
2) By Type: Intrinsic Semiconductor, Extrinsic Semiconductor
3) By End-Use Industry: Information Technology, Aerospace & Defense, Consumer Electronics, Automotive, Healthcare, Other End-Users

Companies in the memory chip market are developing chips with major technological changes that contribute to the growth of demand for memory chips. Researchers are creating memory chips that can store and process the data, reducing the time and energy required to transfer data and increasing the speed of processors. For instance, Samsung Electronics announced the mass production of fifth-generation V-NAND memory chips that transfer data faster and additionally have the fastest data write speed at 500 microseconds (μs). This write speed is a 30% improvement over the previous generation, and the read-time has significantly reduced to 50μs. Technological advances reducing the data transfer time and energy contribute to the growth of the semiconductor and related devices market.

The semiconductor and related devices market report table of contents includes:

1. Executive Summary
2.Semiconductor And Related Devices Market Characteristics
3.Semiconductor And Related Devices Market Trends And Strategies
4.Semiconductor And Related Devices Market analysis
5.Semiconductor And Related Devices Market Size And Growth
6.Semiconductor And Related Devices Segmentation
7.Semiconductor And Related Devices Regional And Country Analysis
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27.Semiconductor And Related Devices Competitive Landscape And Company Profiles
28.Semiconductor And Related Devices Key Mergers And Acquisitions
29.Semiconductor And Related Devices Future Outlook and Potential Analysis

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