As per the analysis report conducted by GMI Research, the semiconductor market is estimated over USD 510 million in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.22% over the forecast period (2020-2027).

A semiconductors is the material that has an electrical conductivity value falling between conductor and non-conductor or insulator. It can be pure elements, such as silicon or germanium, gallium arsenide, or cadmium selenide. Semiconductor’s conducting properties may be modified in useful ways by introducing impurities or doping into the crystal structure. Semiconductors are utilizing in the manufacture of various types of electronic devices, including diodes, transistors, and integrated circuits. These devices having a wide range of applications due to its compactness, consistency, power efficiency, and low cost. As discrete components, semi-conductor uses in power devices, optical sensors, and light emitters, including solid-state lasers. It has a wide range of current- and voltage-handling abilities and, more specifically, integrate into complex but easily generated microelectronic circuits.

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The major factors that responsible for the growth of the semiconductor market are rising adoption of Integrated Circuit (ICs) across industries, especially in automotive, emerging semiconductor packaging technologies, and rising demand for chips related to the rapidly growing use of artificial intelligence (AI). The growing technological innovation and increasing integration of IoT among wide range of electronics and communication devices which increase the requirement of semiconductors is a major factor fueling the growth of the market. Moreover, advanced level packaging facilitates in reducing the node size and strengthens large volume production. These packaging technologies such as chip-scale package (CSP), BGA, Flip-Chip, among others also help in constantly maintaining the production yield and enhancing the scale of production of semiconductor products. However, the technical concerns about the continually changing functionality of semiconductor chips and unusual demands from the end-users belonging to diverse sectors are restraining the growth of the semiconductor market.

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Based on the product, the integrated circuits (ICs) segment is expected to grow in the semiconductor during the forecast period. The factors that are driving the growth of this segment are ongoing technological advancements such as cloud and increasing demand for ICs from the communications, data processing, and consumer electronics sectors. The ongoing technological advancements such as cloud computing and virtual reality in end-devices such as smartphones which in turn increases the demand for integrated circuit (IC) are further fueling the growth of the market over the forecast period. An integrated circuit or IC is a small chip that can function as an amplifier, oscillator, timer, microprocessor, or even computer memory. Memory, logic, analog, and micro components are IC components.

Based on the application, the automotive segment is projected to grow at a higher rate in the global semiconductor market during the forecast period due to growing penetration of electric and hybrid cars, which require about double the semiconductor content than conventional cars. In addition, the strong market potential for autonomous driving is further increasing the demand for semiconductor during the forecast period. Automobiles are experiencing a digital interruption with the presence of components such as ICs, which are crucial in controlling the operations of the integrated electronic components. Numerous modern passenger vehicles are having semiconductor IC-based electronic devices, such as front-view camera systems, collision warning systems, autonomous braking systems, and others. The increasing demand for electric and autonomous vehicles, increase the demand for semiconductor devices from automotive OEMs, which will fuel the growth of the semiconductor market during the forecast period.

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Based on the region, the Asia-pacific is projected to grow at a higher rate during the forecast period in the global semiconductor market over the forecast period owing to presence of the populated countries such as China and India which increase the demand for semiconductor, majorly in consumer electronics along with low labor cost and availability of low-cost devices are further propelling the growth of the market. Japan, China, Taiwan, Singapore, and India are the major market of semiconductors in the Asia-pacific region.

Various notable players in the Semiconductor market include Intel Corporation, Micron Technology, Inc., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd.¸ SK Hynix Inc., Taiwan Semiconductor, Broadcom Inc., Nvidia Corporation, ASML Holding N.V., Texas Instruments Incorporated,  among others.

Key Developments:

• • In Jun 2019, Samsung entered into a strategic partnership with US based semiconductor company, AMD in ultra-low power, high-performance mobile graphics IP based on AMD Radeon graphics technologies. Under this partnership, Samsung will license AMD graphics IP and will focus on advanced graphics technologies and solutions that are important for improving innovation across mobile applications, including smartphones.
  • In Apr 2019, Intel Launched 2nd-Generation Intel Xeon Scalable processor, Intel Optane DC memory and storage solutions, and software and platform technologies to help its customers obtain more value from their data. Intel’s latest data center solutions focus on a wide range of use cases within cloud computing, network infrastructure, and intelligent edge applications, and support high-growth workloads, including AI and 5G. These products enhanced product portfolio for moving, storing, and processing data of the company.
  • The Global Semiconductor market has been segmented based on the product, application, and key region. Based on the product market is categorized into Integrated Circuits (ICs), Optoelectronics, Discrete Semiconductors, and Sensors. Based on the application, the market is segmented into Automotive, Communication, Consumer Electronics, Industrial, Data Processing, and Others.

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