Press Release

Global Semiconductor Market is Expected to Grow at a CAGR of 7.7% in the Forecast Period of 2024-2032

Semiconductor Market

According to a new report by EMR titled, ‘Global Semiconductor Market Report and Forecast 2024-2032’, the global semiconductor market size reached approximately USD 625.05 billion in 2023. The market is projected to grow at a CAGR of 7.7% between 2024 and 2032, reaching a value of around USD 1,218.58 billion by 2032.

The global semiconductor market was dominated by the Asia Pacific region in 2022. Various end-users in the Asia Pacific region contribute to the development of the semiconductor industry. The smartphone market in the region has grown significantly, further contributing to the semiconductor market growth by promising various business opportunities to the suppliers.


Increasing concerns about data capture and communications services, together with the capacity of their chips to co-operate with other players throughout the IoT value chain, make semiconductor manufacturers approach their markets differently. The production of custom chipsets is projected to increase rapidly and to increase the demand for various advanced semiconductor applications based on the customers' requirements. It is anticipated that the consumer electronics industry, a major end-use sector in the semiconductor market, will achieve around half of its revenues from TV, video game consoles and manuals, and digital set-top boxes. The wearables segment is also anticipated to increase at a very high rate.


In July 2020, Intel (NASDAQ: INTC), one of the major players in the semiconductor industry, and Apple reportedly entered into an agreement, leading to Apple (NASDAQ: AAPL) buying most of the Intel's smartphone modem market. In February 2021, Intel (NASDAQ: INTC) announced its unmatched 5 G network infrastructure portfolio. The latest addition to Intel's robust 5 G network infrastructure portfolio includes a new 2nd-Gen Intel Xeon Scalable Processors and the Intel Atom P5900 Processor Family: An Intel Ethernet 700-series XXV710-DA2T hardware-enhanced PTP network adapter, and an Intel eASICTM. These developments by the leading key players in the industry are expected to push the market growth further.


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Market Analysis by Component, Application, and Region:

  • The components of semiconductors can be divided into memory devices, logic devices, analog IC, OSD, and microcomponent.
  • Applications of semiconductors in the market include automotive, industrial, data center, telecommunication, consumer electronics, aerospace and defence, and healthcare, among others.
  • The regional markets for semiconductor include North America, Latin America, the Asia Pacific and Europe, Middle East and Africa (EMEA).


Key Findings of the Report:

  • The market is being driven by the rising adoption of semiconductor ICs in automobiles.
  • The technological advancements in the automotive sector is increasing the demand for semiconductors.
  • Innovations like autonomous vehicles, wireless charging, EVs, and computer-based research are driving the growth of the market.
  • The introduction of advanced system integrations like warning systems, smart cameras, and independent braking systems is propelling the market growth.


Key Offerings of the Report:

  • The EMR report gives an overview of the global semiconductor market for the periods (2018-2023) and (2024-2032), covering the forms and end-uses of semiconductor.
  • The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the regions.
  • The EMR report also provides an insight into the regional price trends of the global semiconductor market.
  • It also provides an analysis of the global trade data, looking into the major importing and exporting countries.


The major key players in the global semiconductor market include Intel Corporation, Micron Technology, Inc., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., SK Hynix Inc., Taiwan Semiconductor Manufacturing Company Limited, Broadcom Inc., MediaTek Inc., Texas Instruments, NXP Semiconductors N.V., and Nvidia Corporation, among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.


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