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Global Semiconductor Market

Semiconductor Market- Global Industry Size, Share, Growth, Opportunity and Forecast, 2018-2028, Segmented By component (memory devices, logic devices, analog IC, MPU, discrete power devices, MCU, sensors, and others); by application (Networking and communications, data processing, industrial, consumer electronics, automotive, government); by region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa);

  • Published Date: March 2022
  • Report ID: BWC22102
  • Available Format: PDF
  • Page: 204

Report Overview

The global semiconductor market’s growth is attributable to the ever-increasing demand for consumer electronic devices and the emergence of advanced technologies like artificial intelligence, machine learning, IoT, etc..

Global Semiconductor Market - Industry Trends & Forecast Report 2028

The global semiconductor market was valued at USD 550.2 billion in 2021 and is expected to reach USD 820.1 billion by 2028 at a CAGR of 5.2% during the forecast period of 2022-2028. The growth rate is attributable to the ever-increasing demand for consumer electronic devices. There has been an emergence of advanced technologies like artificial intelligence, machine learning, IoT, wired and wireless communications. The advancements in the automotive industry and healthcare sector have led to higher penetration of electronic vehicles upgraded medical devices. Consequently, a massive demand for semiconductors leads to a higher growth rate.

Global Semiconductor Market

Semiconductor Overview 

Semiconductors are an essential component of modern electronic devices and modern vehicles. Semiconductor chips have enabled advancements in communications, computing, healthcare, military systems, transportation, clean energy, and countless other applications around the world. Semiconductors are also the driving force behind future technologies, such as artificial intelligence (AI), quantum computing, advanced wireless networks, and virtual power plants. Semiconductors are also referred to as integrated circuits (ICs) or microchips. Generally, these are manufactured from pure elements like silicon, germanium or compounds like gallium arsenide. During the “semiconductor doping” process, a small number of impurities or dopants are added to these pure elements to change the conductivity significantly.

Global Semiconductor Market

Growth Drivers

Rising Demand For Electric Vehicle is Expected to Drive the Growth of the Market

The demand for semiconductors is surging year-over-year (YoY), predominantly owing to the rise in electric vehicle sales (including passenger cars, three-wheelers, and two-wheelers). China reported having held the majority of the electric vehicle sales. For instance, in China, Tesla sold over 56,000 electric passenger cars in September 2021 alone. Additionally, companies like Taiwan Semiconductor Manufacturing Company (TSMC), Intel, and Samsung have announced their plans to invest significantly in expanding their semiconductor capabilities. For instance, Intel plans to invest about USD 95 billion in Europe over the next decade, while TSMC is expected to construct a USD 12 billion chip factory in the U.S. in 2021.

Rising Demand For Electronic Consumer Devices And The Emergence Of Multiple Advanced Technologies Is Expected To Drive Market Growth

The ever-increasing household disposable incomes, escalating population, and rapid urbanization have created a surge in demand for regular and advanced consumer electronic devices. Moreover, integrated circuit chips (IC) are fitted inside electronic devices, including mobile phones, notebooks, servers, automotive, smart homes, gaming, wearables. Smartphones, washing machines, computers, TVs, air conditioners, etc. to ensure their proper and effective functioning, thus bolstering the demand for integrated circuit chips. As a result, major market players like Huawei, Samsung, and Apple are investing on a large scale in launching new devices to meet the consumer demand for advanced devices. The emergence of many advanced technologies like AI, IoT, AR/VR, etc. is also creating an increased demand for semiconductors thus contributing to the market growth of the global semiconductor market.

Growth Restraint

Changing Geopolitics, A Shift In Global Trade, And High Tariffs

 

The semiconductor market has been enormously dependent on the United States owing to the high dominance of the country in the market share. Consequently, the change in leadership led to a change in the pattern of global trade, as the U.S. imposed a large number of restrictions on China due to the trade war. The growing friction between the U.S. and China acts as a major challenge to the semiconductor industry's growth throughout the globe as it hurts the pre-established global supply chains. Moreover, high tariffs are applied on almost all industrial goods and materials, which are essential for manufacturing chips. Such disruptions impact the import and export of components and result in an increment in the manufacturing price of the chips. All these factors hamper the growth of the semiconductor market.

Impact Of COVID-19 On Global Semiconductors Market.

The COVID-19 pandemic caused large-scale global disruptions, bolstering the already increasing adoption of digital technologies. The worldwide lockdown restrictions played a major role in bringing digital technologies to prominence for connecting people and businesses to function. 2020 witnessed a high surge in demand for both businesses and consumer customers. Therefore, the demand for semiconductors remained healthy despite the supply chain issues and escalating divergence in global trade due to the Covid-19 wave. The surge in demand created a shortage in the supply across the value chains. Thus, the chipmakers rushed in to take advantage of the situation by consolidating their efforts by allocating dedicated foundries, with capacity utilization at nearly 100%. Front-end capacity remained tight, but fabless suppliers got the production they needed from their foundry partner. Front-end manufacturing started to meet demand in the third quarter of 2021; however, larger issues and shortages remained in back-end manufacturing and materials.

Global Semiconductor Market– By Component

Based on the component, the Global Semiconductor Market can be segmented into the following categories: memory devices, logic devices, analog IC, MPU, discrete power devices, MCU, sensors, and others. Amidst the segmentation, memory devices accounted for the largest market share in 2021 owing to the rapid adoption of technological advancements like cloud computing, AR/VR, etc., and their integration in end-user devices. Moreover, the high cost of memory products like NAND flash chips and DRAM is responsible to a large extent for their high market share. In terms of logic devices, they are anticipated to display the highest market growth rate during the forecast period 2022-2028. They are used in special-purpose ASSPs and ASICs. Other segmentations like analog microprocessors (MPU), microcontrollers (MCU), analog IC, discrete power devices, MCU, sensors, and others are projected to show decent growth during the forecast period 2022-2028.

Global Semiconductor Market– By Application

Based on the application, the global semiconductor market is further segmented into networking and communications, data processing, industrial, consumer electronics, automotive, and government. Amidst these segmentations, the network and communications segment is anticipated to witness the highest growth rate during the forecast period due to high demand for smartphones, computers, internet connectivity devices. The necessity to work from home in the current time has propelled the demand, thus enhancing the growth rate of this segment. In terms of data processing devices, they held a significant market share in 2021 owing to tremendous sales of smartphones and connected devices like wearable devices, gaming consoles, etc. Other segments like industrial, automotive, government are expected to witness decent but comparatively lower market growth rate during the forecast period 2022-2028.

Global Semiconductor Market Share

Global Semiconductor Market– Regional Insights.

On the basis of regions, the global semiconductor market has been segmented into five categories- North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Amidst the segmentation, Asia-Pacific dominates the global semiconductors market in 2021 and is projected to exhibit the highest growth rate during the forecast period 2022-2028. This can be attributed to the surge in the adoption of high-end technology-based devices, growing consumer demand for electronic devices, and low electronic prices. Asia- Pacific is followed by North America in terms of growth rate as a result of high investment in the research and development activities. Europe is likely to exhibit considerable growth aided by its telecom and automotive industry. Major companies across Europe invest in innovating new, improved technologies and augmenting their production capabilities to take advantage of the growing demand. These regions are followed by Latin America, the Middle East, and Africa, which are anticipated to grow decent growth due to high consumer demand for electronic devices.

Competitive Landscape

The key players dominating the global semiconductor market are Samsung Electronics, Intel, Qualcomm, Broadcom, SK Hynix, Toshiba, Taiwan Semiconductors, Texas Instruments, Micron Technology, Maxim Integrated Products, NXP Semiconductors N.V., NVIDIA, and other prominent players. The players maintain their dominance in the market by investing in research and activities, integrating the latest and advanced technologies into their products, and launching improved products for the customers. Different strategies are adopted, like engaging in strategic alliances, agreements, mergers, and collaborations.

 

Recent Development

  • February 2020: Toshiba Electronic Devices & Storage Corporation launched “TC78H670FTG,” the latest addition to its array of micro-stepping motor driver ICs. The new IC has a high rating of 18V/2.0A and can drive motors with a varying range of operating voltages. It can drive a 128 micro-stepping motor with a power supply ranging from 2.5V-16V. It has a wide range of applications, including USB-powered, battery-powered, and standard 9-12V system devices.

 

  • July 2020: Qualcomm Technologies launched “QCS410” and “QCS610” system-on-chips. These are high-performance octa-core IoT system-on-chip for smart cameras and artificial intelligence (AI) use cases. They are designed to deliver powerful computing for on-device camera processing and machine learning, with remarkable power and thermal efficiency, across a wide array of IoT applications.

 

Scope of Report:

 

Attribute   Details  
Years Considered   Historical data- 2018-2021
Base Year- 2021
 
Facts Covered   Revenue in USD Million  
Market Coverage   United States, Canada, Germany, United Kingdom, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, United Arab Emirates, South Africa  
Product/Service Segmentation   By component, by application, and by region.
Key Players   The key players dominating the global semiconductor market are Samsung Electronics, Intel, Qualcomm, Broadcom, SK Hynix, Toshiba, Taiwan Semiconductors, Texas Instruments, Micron Technology, Maxim Integrated Products, NXP Semiconductors N.V., NVIDIA, and other prominent players.

 

By Component

  • Memory Devices
  • Logic Devices
  • Analog IC
  • MPU
  • Discrete Power Devices
  • MCU
  • Others (Sensors, etc.)

By Application

  • Networking And Communications
  • Data Processing
  • Industrial
  • Consumer Electronics
  • Automotive
  • Government

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle-East and Africa
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Semiconductor Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Semiconductor Market Overview
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
        1. Memory Devices
        2. Logic Devices
        3. Analog IC
        4. MPU
        5. Discrete Power Devices
        6. MCU
        7. Others Like Sensors
      2. By Application
        1. Networking And Communications
        2. Data Processing
        3. Industrial
        4. Consumer Electronics
        5. Automotive
        6. Government
      3. By Region
        1. North America
        2. Europe
        3. Asia-Pacific
        4. Latin America
        5. Middle-East and Africa
  6. North America Semiconductor Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
      2. By Application
      3. By Country
        1. United States
        2. Canada
  7. Europe Semiconductor Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
      2. By Application
      3. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  8. Asia Pacific Semiconductor Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
      2. By Application
      3. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  9. Latin America Semiconductor Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
      2. By Application
      3. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  10. Middle East & Africa Semiconductor Market
    1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Component
      2. By Application
      3.  By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of Middle East & Africa
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
  12. Impact of COVID-19 on Semiconductor Industry
  13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Samsung Electronics
    2. Intel
    3. Qualcomm
    4. Broadcom
    5. SK Hynix
    6. Toshiba
    7. Taiwan Semiconductor
    8. Texas Instruments
    9. Micron Technology
    10. Maxim Integrated Products
    11. NXP Semiconductor N.V.
    12. NVIDIA
    13. Other Prominent Players
  14. Key Strategic Recommendations

 

List of Figures

 

 Figure 1        Global Semiconductor Segmentation

Figure 2        Global Semiconductor Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Semiconductor Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Semiconductor Market Share, By Component, By Value, 2018-2028

Figure 6        Global Semiconductor Market Share, By Application, By Value, 2018-2028

Figure 8        Global Semiconductor Market Share, By Region, By Value, 2018-2028

Figure 9        North America Semiconductor Market Size, By Value (USD Million), 2018-2028

Figure 10       North America Semiconductor Market Share, By Component, By Value, 2018-2028

Figure 11       North America Semiconductor Market Share, By Application, By Value, 2018-2028

Figure 13       North America Semiconductor Market Share, By Country, By Value, 2018-2028

Figure 14       Europe Semiconductor Market Size, By Value (USD Million), 2018-2028

Figure 15       Europe Semiconductor Market Share, By Component, By Value, 2018-2028

Figure 16       Europe Semiconductor Market Share, By Application, By Value, 2018-2028

Figure 18       Europe Semiconductor Market Share, By Country, By Value, 2018-2028

Figure 19       The Asia-Pacific Semiconductor Market Size, By Value (USD Million), 2018-2028

Figure 20       The Asia-Pacific Semiconductor Market Share, By Component, By Value, 2018-2028

Figure 21       The Asia-Pacific Semiconductor Market Share, By Application, By Value, 2018-2028

Figure 23       The Asia-Pacific Semiconductor Market Share, By Country, By Value, 2018-2028

Figure 24       Latin America Semiconductor Market Size, By Value (USD Million), 2018-2028

Figure 25       Latin America Semiconductor Market Share, By Component, By Value, 2018-2028

Figure 26       Latin America Semiconductor Market Share, By Application, By Value, 2018-2028

Figure 28       Latin America Semiconductor Market Share, By Country, By Value, 2018-2028

Figure 29       The Middle East & Africa Semiconductor Market Size, By Value (USD Million), 2018-2028

Figure 30       The Middle East & Africa Semiconductor Market Share, By Component, By Value, 2018-2028

Figure 31       The Middle East & Africa Semiconductor Market Share, By Application, By Value, 2018-2028

Figure 33       The Middle East & Africa Semiconductor Market Share, By Country, By Value, 2018-2028

 

List of Tables

 

Table 1         Global Semiconductor Market Size, By Component, By Value, 2018-2028                                              

Table 2         Global Semiconductor Market Size, By Application, By Value, 2018-2028                                               

Table 3         Global Semiconductor Market Size, By Payment Method, By Value, 2018-2028                                       

Table 4         Global Semiconductor Market Size, By Region, By Value, 2018-2028                                          

Table 5         North America Semiconductor Market Size, By Component, By Value, 2018-2028                                            

Table 6         North America Semiconductor Market Size, By Application, By Value, 2018-2028                                                                                             

Table 7         North America Semiconductor Market Size, By Country, By Value, 2018-2028                                        

Table 8         Europe Semiconductor Market Size, By Component, By Value, 2018-2028                                             

Table 9         Europe Semiconductor Market Size, By Application, By Value, 2018-2028                                                                                              

Table 10        Europe Semiconductor Market Size, By Country, By Value, 2018-2028                                        

Table 11        The Asia-Pacific Semiconductor Market Size, By Component, By Value, 2018-2028                                          

Table 12        The Asia-Pacific Semiconductor Market Size, By Application, By Value, 2018-2028                                           

Table 13        The Asia-Pacific Semiconductor Market Size, By Country, By Value, 2018-2028                                               

Table 14        Latin America Semiconductor Market Size, By Component, By Value, 2018-2028                                             

Table 15        Latin America Semiconductor Market Size, By Application, By Value, 2018-2028                                                                                              

Table 16        Latin America Semiconductor Market Size, By Country, By Value, 2018-2028                                         

Table 17        The Middle East & Africa Semiconductor Market Size, By Component, By Value, 2018-2028                                               

Table 18        The Middle East & Africa Semiconductor Market Size, By Application, By Value, 2018-2028                                                                            

Table 19        The Middle East & Africa Semiconductor Market Size, By Country, By Value, 2018-2028                                           

Table 20        Samsung Electronics Company Overview                                        

Table 21        Samsung Electronics Financial Overview                                         

Table 22        Intel Company Overview                                           

Table 23        Intel Financial Overview                                            

Table 24        Broadcom Company Overview                                             

Table 25        Broadcom Financial Overview                                              

Table 26        SK Hynix Company Overview                                              

Table 27        SK Hynix Financial Overview                                      

Table 28        Taiwan Semiconductor Company Overview                                      

Table 29        Taiwan Semiconductor Financial Overview                                       

Table 30        Micron Technology Company Overview                                           

Table 31        Micron Technology Financial Overview                                            

Table 32        Maxim Integrated Products Company Overview                                         

Table 33        Maxim Integrated Products Financial Overview                                          

Table 34        NXP Semiconductor N.V. Company Overview                                             

Table 35        NXP Semiconductor N.V. Financial Overview                                              

Table 36        NVIDIA Company Overview                                       

Table 37        NVIDIA Financial Overview                                        

 

Market Segmentation

By Component

  • Memory Devices
  • Logic Devices
  • Analog IC
  • MPU
  • Discrete Power Devices
  • MCU
  • Others (Sensors, etc.)

By Application

  • Networking And Communications
  • Data Processing
  • Industrial
  • Consumer Electronics
  • Automotive
  • Government

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle-East and Africa
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