The industrial semiconductors market has shown significant growth, expected to rise from $67.58 billion in 2023 to $76.3 billion in 2024, reflecting a CAGR of 12.9%. This expansion is driven by the demand for automation technologies and the rise of consumer electronics. By 2028, the market is projected to reach $124.73 billion, with a CAGR of 13.1%. Major trends include increased demand for power electronics and advancements in IoT applications.
Major Driver In The Industrial Semiconductors Market
The growing demand for automation is projected to advance the industrial semiconductors market. Automation entails utilizing technology to operate machinery with minimal human intervention, driven by the pursuit of efficiency and precision. Semiconductors play a vital role in industrial automation, controlling processes and powering systems. According to the International Federation of Robotics, service robots supplied for professional use reached 158,000 units in 2022, marking a 48% increase, with industrial robot installations growing at a 5% annual rate until 2022. Therefore, the rising demand for automation is propelling the industrial semiconductors market.
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Industrial Semiconductors Market Competitive Landscape
Hitachi Ltd, Panasonic Corporation, Mitsubishi Electric Corporation, Honeywell International Inc, Broadcom Inc, Advanced Micro Devices Inc., STMicroelectronics NV, Infineon Technologies AG, NXP Semiconductors NV, Analog Devices Inc., Renesas Electronics Corporation, Fuji Electric Co. Ltd., Microchip Technology Inc., Omron Corporation, Teledyne Technologies Incorporated, ROHM Semiconductor Ltd., Vishay Intertechnology Inc., Diodes Incorporated, Microsemi Corporation, Fairchild Semiconductor International Inc.
Key Industrial Semiconductors Market Trend
Companies in the industrial semiconductors market are innovating with products like built-in Delta-Sigma modulators to improve data conversion and signal processing accuracy. In June 2024, Asahi Kasei Microdevices Corporation introduced the CQ36 Series Integrated Circuit, designed for high-precision analog-to-digital conversion. With superior signal-to-noise ratios and reduced power consumption, this compact solution is ideal for various applications in both industrial and consumer electronics.
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Industrial Semiconductors Market Segmentation
The industrial semiconductors market covered in this report is segmented –
1) By Type: Single-Mode, Multi-Mode
2) By Product: Integrated Circuits, Optoelectronics, Discrete Semiconductors, Sensors
3) By Application: Construction, Manufacturing, Automotive, Aerospace, Other Applications
By Geography:The regions covered in the industrial semiconductors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the industrial semiconductors market in 2023.
The Industrial Semiconductors Global Market Report 2024 furnishes information about the global industrial semiconductors market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
