• Stacy Lawlor

Global Semiconductor Market Size to grow by US$ 1065.2 Bn in 2030

The semiconductor market is projected to reach US$ 1065.2 Bn by 2030, at a CAGR of 12.1%.


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Many countries throughout the world are launching smart city initiatives and adopting smart city technologies to manage resources due to rising population and urbanization. Sensors, smart lights, and smart meters, among other connected devices, aid in boosting the sales of semiconductors across the world. The growing number of smart homes and buildings, smart infrastructures, smart networking & communications, and Industry 4.0 projects is likely to result in significant business transformations, propelling market growth.


The market for smart home appliances is being fueled by the growing desire for remote operation ease and energy-efficient solutions. Due to changing consumer habits, some smart home equipment such as smart TVs, lighting solutions, and refrigerators have already established themselves in the market. The market is expected to grow in the forecast period as more smart home appliances are released.


The increased use of logic gates in devices has boosted logic segment sales in a number of regions. The use of memory ICs to store, refresh, and retrieve data at a faster rate has significantly increased the utilization of memory. The memory IC has a high density level and can store a large amount of information.


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The memory devices segment accounted largest market share in 2020 due to the continuing technological breakthroughs like virtual reality and cloud computing, as well as their integration into end-user devices and revenue would be generated by the high average selling price of NAND flash chips and DRAM. The networking & communications segment accounted largest market share in 2020 due to the rising number of smart connected devices across the world. Remote working is becoming increasingly necessary in both developed and developing economies, increasing demand for this application category.


North America is expected to dominate the market share of global semiconductor market owing to the rising investments over R&D activities regarding the components of the semiconductor. According to the Semiconductor Business Association (SIA), R&D spending in the semiconductor industry in the United States grew at a compound annual growth rate of roughly 6.6 percent from 1999 to 2019. The importance of investing in R&D production is seen in the fact that R&D expenditures by US corporations are constantly high, regardless of annual sales cycles.


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KEY INDUSTRY DEVELOPMENTS:


May 2022- Texas Instruments has announced to setup 300-mm semiconductor wafer fabrication plants in Sherman, Texas by manufacturing tens of millions of analog and embedded processing chips every day. Micron Technology has announced to launch two new consumer storage products, Crucial P3 Plus Gen4 NVMe and Crucial P3 NVMe SSD.


February 2022- AMD has acquired Xilinx to expand the product portfolio and customer base across the world.


April 2020- NVIDIA Corporation has acquired Mellanox which will enable customers to achieve higher performance, greater utilization of computing resources and lower operating costs.


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