How big is the Semiconductor Market?

 

The global semiconductor market size was USD 527.88 billion in 2021. The market is projected to grow from USD 573.44 billion in 2022 to USD 1,380.79 billion in 2029, exhibiting a CAGR of 12.2% during the forecast period.

Increasing Consumption of Consumer Electronics & Rising Demand for ICs to Augment Growth

Factors such as rising consumption of consumer electronics, increasing disposable income, and rapidly growing population will boost the semiconductor market growth during the forecast period. Additionally, rising urbanization & rising products by industry leaders will increase the footprint of the market. Also, rising demand for Integrated Circuits (ICs) and rising technological advancements will fuel the growth of the market.

However, shifting global trade practices are expected to hamper the growth of the market during the forecast period. Also, tariff disruptions will limit the growth of the market.

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/semiconductor-market-102365

List of Key Players Mentioned in the Report:

·         Broadcom, Inc. 

·         Intel Corporation 

·         Qualcomm 

·         Samsung Electronics 

·         SK Hynix 

·         Taiwan Semiconductors 

·         Texas Instruments 

·         Toshiba Corporation 

·         Maxim Integrated Products, Inc. 

·         Micron Technology 

·         NVIDIA Corporation 

·         NXP Semiconductors N.V. 

Semiconductor Market In Asia Pacific

The market in asia pacific stood at USD 289.92 billion in 2021 and is expected to gain a huge portion of the market share in the coming years.

Asia Pacific to Hold Dominance due to Rising Adoption of High-End Technology

Asia Pacific will witness the largest semiconductor market share during the forecast period due to increased adoption of technology and decreasing minimum electronic prices. Additionally, rising technological advancements and integration of the Internet of Things (IoT) and LTE will further fuel the growth of the market. Also, the presence of key market players in the region will increase the footprint of the market.

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