How Has the Semiconductor And Related Devices Market Evolved Historically and What is its Current Size
The semiconductor and related devices market has seen considerable growth due to a variety of factors.
• Over the past few years, the market size for semiconductor and related devices has been expanding swiftly. A surge from $576.25 billion in 2024 to $637.51 billion in 2025, with a compound annual growth rate (CAGR) of 10.6%, is projected. Factors contributing to this growth during the historic period include the increasing demand for consumer electronics, expansion within the automotive industry, the necessity for industrial automation, networking and connectivity requirements, and renewable energy technologies.
What Is the Forecasted Market Size and Growth Rate for The Semiconductor And Related Devices Market?
The semiconductor and related devices market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market for semiconductors and related devices is predicted to experience robust growth. The market value is projected to reach $924.2 billion in 2029, growing at a compound annual growth rate (CAGR) of 9.7%.
This surge in the forecast period is due to factors such as the deployment of 5G networks, the expansion of IoT and edge computing, the introduction of electric and autonomous vehicles, and the application of artificial intelligence and machine learning, as well as advancements in medical electronics and healthcare technologies. Key trends expected during the forecast period consist of a rise in demand for automotive semiconductors, IoT and wearable device integration, the development of tailored and specific chips, global collaborations and partnerships, and resilience amid geopolitical hurdles.
Which Drivers Are Accelerating Growth In The Semiconductor And Related Devices Market?
The surge in the usage of smartphones, tablets, and other electronic devices along with an increase in data consumption propels the market for semiconductors and related devices. The escalating sales of electronic devices such as tablets and smartphones contribute to the increased creation and consumption of digital content necessitating the need for memory chips to save data. For example, a report published by Us witch Limited, a UK-based online and telephone comparison and switching service, in February 2023, revealed that in 2022, the number of active mobile connections was 71.8 million, marking a 3.8% rise from 2021. The population in the UK in 2025 is projected to be 68.3 million, and 95% of them will be smartphone users. Hence, the growing prevalence of smartphone usage is anticipated to fuel the expansion of the semiconductor and related devices market.
What Key Areas Define The Segmentation Of The Global Semiconductor And Related Devices Market?
The semiconductor and related devices market covered in this report is segmented –
1) By Product Type: Integrated Circuits, Memory Chips, Microprocessors, Other Product Types
2) By Type: Intrinsic Semiconductor, Extrinsic Semiconductor
3) By End-Use Industry: Information Technology, Aerospace & Defense, Consumer Electronics, Automotive, Healthcare, Other End-Users
Subsegments:
1) By Integrated Circuits: Analog Integrated Circuits, Digital Integrated Circuits, Mixed-Signal Integrated Circuits
2) By Memory Chips: Dynamic Random Access Memory (DRAM), Static Random Access Memory (SRAM), Flash Memory
3) By Microprocessors: General-Purpose Microprocessors, Application-Specific Integrated Circuits (ASICs), Digital Signal Processors (DSPs)
4) By Other Product Types: Discrete Semiconductors, Sensors, Power Semiconductors
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How Are Emerging Trends Reshaping The Dynamics Of The Semiconductor And Related Devices Market?
Semiconductor and related devices market's primary companies are advancing towards new technologies such as the commercial MCU chip, designed to boost performance and efficiency across a wide range of uses. The commercial Microcontroller Unit (MCU) chip, typically found in different electronic devices and systems, is designed for commercial applications. Take for example Mindgrove Technologies, a semiconductor design firm based in India. In May 2024, they unveiled Secure IoT, India's inaugural high-performance microcontroller unit (MCU) chip for commercial application, operating on the RISC-V architecture at 700 MHz. This inventive chip, designed for applications including wearables, smart city structure, and connected home gadgets, is retailed 30% less costly than equivalent market alternatives. Its features such as programmability, flexibility, and improved security make it fit to substitute millions of imported chips in India, thereby encouraging semiconductor manufacturing self-reliance in India.
Who Are the Key Players in the Semiconductor And Related Devices Market?
Major companies operating in the semiconductor and related devices market include:
• Samsung Electronics Co. Ltd.
• Sony Corporation
• Taiwan Semiconductor Manufacturing Company Ltd.
• Intel Corporation
• Qualcomm Incorporated
• SK Hynix Inc.
• Broadcom Inc.
• Micron Technology Inc.
• Fujitsu Microelectronics Asia Pacific Limited
• NVIDIA Corporation
• Advanced Micro Devices Inc.
• Toshiba Corporation
• Texas Instruments Incorporated
• Western Digital Corporation
• MediaTek Inc.
• STMicroelectronics N.V.
• Infineon Technologies AG
• Transcend Information Inc.
• NXP Semiconductors N.V.
• Analog Devices Inc.
• Renesas Electronics Corporation
• KLA Corporation
• AU Optronics Corp.
• Semiconductor Manufacturing International Corporation
• Marvell Technology Group Ltd.
• SolarEdge Technologies Inc.
• Tower Semiconductor Ltd.
• Mellanox Technologies Ltd.
• ON Semiconductor Corporation
• Maxim Integrated Products Inc.
• Cypress Semiconductor Corporation
What Is The Most Dominant Region In The Semiconductor And Related Devices Market?
Asia-Pacific was the largest region in the semiconductor and related devices market in 2024. North America was the second-largest region in the global semiconductor and related devices market share. The regions covered in the semiconductor and related devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
