Global Semiconductor And Other Electronic Component Market Strategies 2024, Forecast To 2033
19 Jan, 2024
The market size for semiconductors and other electronic components has robustly increased, soaring from $1151.27 billion in 2023 to $1242 billion in 2024, reflecting a 7.9% CAGR. Historical growth stems from technological advancements, consumer electronics, data centers, and IoT. Anticipated growth projects a market size of $1649.37 billion by 2028, with a 7.3% CAGR. Factors driving this include 5G, artificial intelligence, semiconductor shortages, green technology, and environmental regulations. Noteworthy trends in the forecast period include electrification, lightweighting, advanced materials, additive manufacturing, digitalization, and connectivity.
Global Semiconductor And Other Electronic Component Market Key Driver
The semiconductor and other components market's growth is driven by the increasing demand for consumer electronics. Consumer electronics, designed for everyday use, rely on semiconductor components for processing power, memory, and connectivity. In January 2023, LG reported its highest annual revenue, exceeding $60 billion. The surge in consumer electronics demand fuels the semiconductor and other components market.
Get A Free Sample Of The Global Semiconductor And Other Electronic Component Market ReportGlobal Semiconductor And Other Electronic Component Market Segments
The semiconductor and other electronic component market covered in this report is segmented –
1) By Type: Semiconductor And Related Devices, General Electronic Components
2) By Mode: Online, Offline
3) By Sales Channel: OEM, Aftermarket
4) By Application: Automotive, Manufacturing, Other Applications
Subsegments Covered: Integrated Circuits, Memory Chips, Microprocessors, Other Semiconductor And Related Devices
By Geography: The regions covered in the semiconductor and other electronic component market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
Asia-Pacific was the largest region in the semiconductor and other electronic component market in 2023. North America was the second largest region in the semiconductor and other electronic component market. The regions covered in the semiconductor and other electronic component market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Semiconductor And Other Electronic Component Industry Players
Samsung Electronics Co. Ltd., Taiwan Semiconductor Manufacturing Company Limited, SK Hynix Inc., Qualcomm Incorporated, Micron Technology Inc., LG Display Co. Ltd., Intel Corporation, Hon Hai Precision Industry Co. Ltd., Broadcom Inc., Advanced Semiconductor Engineering Inc., Texas Instruments Inc., Toshiba Corporation, Infineon Technologies AG, STMicroelectronics NV, NXP Semiconductors NV, Analog Devices Inc., Renesas Electronics Corporation, MediaTek Inc., ON Semiconductor Corporation, Amkor Technology Inc., Marvell Technology Inc., Advanced Micro Devices Inc., NVIDIA Corporation, Cypress Semiconductor Corporation, Silicon Laboratories Inc., Microchip Technology Inc., Integrated Device Technology Inc., Cirrus Logic Inc., Semtech Corporation, Lattice Semiconductor Corporation, Monolithic Power Systems Inc., Power Integrations Inc.
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Semiconductor And Other Electronic Component Market Overview
A semiconductor component is a crystal material whose ability to conduct electricity increases with increasing temperature. An electronic component refers to any discrete device in an electronic system that affects electrons or their associated fields. They are circuit elements that aid in its operation.
Semiconductor And Other Electronic Component Global Market Report 2023 provides data on the global semiconductor and other electronic component market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The semiconductor and other electronic component market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.