Lucintel Forecasts Semiconductor Market to Reach $822.0 Billion by 2028

Posted on 2024-02-12 by Lucintel in Marketing // 0 Comments

According to the recent study the semiconductor market is projected to reach an estimated $822.0 billion by 2028 from $656.5 billion in 2022, at a CAGR of 5.3% from 2023 to 2028. Growth in this market is primarily driven by increasing price of semiconductor due to supply shortage, growth in wireless communication, increasing demand for advanced safety features in automotive, and growth in internet connected devices.

Browse 98 figures / charts and 60 tables in this 219 -page report to understand trends, opportunities and forecast in semiconductor market by device (integrated circuit, discrete semiconductor, optoelectronics, and sensor), application (communication, consumer electronics, automotive electronics, pc/computer, industrial and others), by technology (artificial intelligence and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World).

“Integrated circuit market is expected to remain the largest segment during the forecast period.”

Based on device, the semiconductor market is segmented into integrated circuit, discrete semiconductor, optoelectronics, and sensor. Lucintel forecasts that the integrated circuit market is expected to remain the largest segment due to increasing demand for memory ICs in smartphones, tablet PCs, and other personal media devices.

“Within the semiconductor market, the communication segment is expected to remain the largest end use industry”

Based on end use industry the communication segment is expected to witness the highest growth over the forecast period due to an increasing demand for wireless communication technology.

Download sample by clicking on semiconductor market

“Asia pacific will dominate the semiconductor market in near future”

APAC will remain the largest region over the forecast period due to a growing adoption of IoT (internet of things), increasing electronic content per vehicles, and growing industrial automation in countries such as China, Taiwan, and India. North America is expected to witness the highest growth over the forecast period due to growth in the automotive electronics and industrial electronics market.

Major players of semiconductor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Samsung Electronics, Intel, SK Hynix, Qualcomm, Broadcom, Texas Instruments, NXP Semiconductor, Micron Technology, Nvidia, and STMicroelectronics are among the major semiconductor providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Matched content

Editor’s pick