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Semiconductor Market
The Semiconductor Market was estimated over USD 510 million in 2019 and is projected to expand at a CAGR of 4.22% over the forecast period (2020-2027).
The factors driving the growth of Semiconductor Market includes growing demand for consumer electronics such as PCs, smartphone Laptops and Tablets, rising popularity of wireless connected devices and increasing number of advanced packaging facilities around the world. According to the report published by Statista, the Global Laptop Market is predicted to reach USD 181.90 billion by the end of 2026, growing at a CGAR of 2.22% over the forecast period (2022-2026), which will boost Global Semiconductor Market share in the coming years. Moreover, growing the adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT), technological innovations in the semiconductor chips and increasing Government initiatives to boost the production semiconductor chips, are further pushing the Global Semiconductor Market size. As per India Today, the Department of Telecommunications of India has allocated INR 76,000-crore to accelerate the semiconductor and display manufacturing in India, which will propel the Semiconductor Market share in the coming years.
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However, the growth of Semiconductor Market is hindered attributed to disruptions in the global supply chain.
The major players operating in the market are SK Hynix Inc., Taiwan Semiconductor, Broadcom Inc., Intel Corporation, Micron Technology, Inc., Qualcomm Technologies, Inc., ASML Holding N.V., Texas Instruments Incorporated, Nvidia Corporation and SK Hynix, Inc., among others.
Product: Segment Analysis
According to the Global Semiconductor Market Forecast, the integrated circuits (ICs) segment is predicted to expand at a significant CAGR over the forecast period. The increasing adoption of advanced technologies such as cloud computing, Artificial Intelligence and Virtual Reality in the smartphones along with its low power consumption features, are some of the factors responsible for the growth of the segment.
Application: Segment Analysis
As per the Semiconductor Market Forecast, the automotive segment is anticipated to capture a sizeable market share during the forecast period. The increasing demand for electric and hybrid vehicles and advancements in autonomous driving, are some of the important factors augmenting the growth of the segment.
Regional: Segment Analysis
Based on Region, the Asia-pacific region is expected to expand at a faster CAGR over the forecast period. The growing demand for consumer electronics, high population density, availability of cheap labor, rising disposable incomes, rapid urbanization, and improvements in the living standards, are influencing the Semiconductor Market size in Asia-Pacific.
Market Segmentation
Segmentation by Product
Integrated Circuits (ICs)
Optoelectronics
Discrete semiconductors
Segmentation by Application
Automotive
Communication
Consumer Electronics
Industrial
Data Processing
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
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