Semiconductor market is projected to grow at a CAGR of 11.00% during 2022 to 2032

The global semiconductor market was valued at USD 487.21 billion in 2021 and it is predicted to rise at a compound annual growth rate (CAGR) of 11.00 % from 2022 to 2032: Quintile Insights
 
TOKYO, Japan - Oct. 12, 2022 - PRLog -- The global semiconductor market was valued at USD 487.21 billion in 2021 and it is predicted to rise at a compound annual growth rate (CAGR) of 11.00 % from 2022 to 2032. This market's growth can be attributed to the rising global consumption of consumer electronics devices. Furthermore, the emergence of artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML) technologies are opening up new opportunities. Market development opportunities. These technologies help memory chips process data large amounts of data in a short period of time.

Over the forecast period, market growth will be driven by rising demand for faster and more advanced memory chips in industrial applications. The entire technology industry is recovering from the trade war between the United States and China, as well as the 2019 down cycle. The International Data Corporation (IDC) forecasted a 6% decline in revenue for the global semiconductor industry over the forecast period in 2020 (with a 54% probability).

"Increasing Integrated Circuit Demand in Emerging Countries Globally Fuels the Market"

AI, IoT, and wirelessly connected devices are creating a huge demand all over the world. Micron Technology, Inc., for example, provides high-capacity memory and multi-chip packages powered by AI training that are used in embedded or cloud edge devices and mobile. The majority of these new inventions include a single system on a chip (SoC) to provide high levels of integration.

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SEGMENT OUTLOOK:

The global semiconductor market is segmented based on Component and Application.

BY REGIONAL OUTLOOK:

On the basis of geography, the semiconductor market is segmented into:
  • North America (U.S., Canada)
  • Europe (U.K., Germany, France, Italy, and Spain)

• Asia Pacific (Japan, China, India, Australia, South Korea, and Singapore)

• Latin America (Brazil, Mexico, Argentina, and Colombia)

• Middle East & Africa (Saudi Arabia, UAE, and South Africa)

Recent Developments:
  • In September 2021,
Toshiba Electronic Devices & Storage Corporation launched a new M4G Group of Arm Cortex-M4 Microcontrollers for high-speed data processing products in the TXZ+TM Family Advanced Class.
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The following are some of the major market players operating across the globe:
  • Broadcom, Inc.
  • Intel Corporation
  • Qualcomm
  • Samsung Electronics
  • SK Hynix
  • Taiwan Semiconductors
  • Texas Instruments
  • Toshiba Corporation
  • Maxim Integrated Products, Inc.

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Tags:Semiconductors
Industry:Semiconductors
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Page Updated Last on: Nov 21, 2022
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