DUBLIN–(BUSINESS WIRE)–The “Global Semiconductor Market Report and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
According to this report the global semiconductor market attained a value of around USD 555.90 billion in 2021. Aided by rapid digitalisation, the market is projected to further grow at a CAGR of 8.0% between 2022 and 2027 to reach a value of nearly USD 900.07 billion by 2027.
Semiconductors, also called chips, refer to materials that possess electrical conductivity somewhere between a conductor and an insulator. Their conductivity is altered with the addition of impurities to meet the needs of various electrical devices. They are widely used in different applications, such as temperature sensors, 3D printing machines, microchips and self-driving cars, calculators, solar plates, computers, and other electronic devices.
The semiconductors are also used in manufacturing transistors and MOSFET, which are used as a switch in Electrical Circuits. Additionally, their functions include amplifying signals, switching, and energy conversion. It is made of elements or compounds like silicon, germanium, or gallium arsenide. The exceptional characteristics of semiconductors are reduced power losses, smaller in size, lightweight, and higher resistivity than conductors but lesser than insulators.
The rising population, rapid urbanisation, and improved living standards are leading to the growing adoption of consumer electronics in daily lives, which is driving the market growth of semiconductors. The trend of working from home is also leading to the increasing sales of smartphones and laptops, which comprises of Integrated Chips. The development of autonomous vehicles and the electrification of transportation, owing to growing eco-consciousness, are also playing a critical role in the market expansion.
Nations are recognising the fundamental importance of semiconductors and thus, the governments are taking significant steps to boost semiconductor production and meet its growing demand, making the countries self-reliant. For instance, in April 2022, the Government of India signed multiple Memorandum of understanding with several leading semiconductor market players at an international conference in Bengaluru to design and co-develop semiconductors.
The research and development activities associated with semiconductor technology, such as the novel materials, new manufacturing techniques, improved architecture, and others, are likely to bolster the market growth. The rapid technological advancements such as artificial intelligence, machine learning, and rising demand for memory chips in different industries are expected to augment the market growth over the forecast period.
Market Segmentation
The market report analyses the market based on segmentations such as form, end use, and major region.
Market Breakup by Form
- ICs
- Optoelectronics
- Discrete Semiconductors
- Sensors
Market Segmentation by End Use
- Automotive
- Industrial
- Data Centre
- Telecommunication
- Consumer Electronics
- Aerospace and Defence
- Healthcare
- Others
Market Breakup by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments of the key players in the industry.
Some of the major players in the market explored in the report are:
- Intel Corporation (NASDAQ: INTC)
- Micron Technology, Inc.
- Qualcomm Technologies, Inc.
- Samsung Electronics Co., Ltd.
- SK Hynix INC
For more information about this report visit https://www.researchandmarkets.com/r/wdjj9n
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