United States Semiconductor Market to Grow at a CAGR of 8.7% During 2024-2032, Aided by the Surge in Demand for Consumer Electronic Devices

Semiconductors play a crucial role in various industries, including computing, telecommunication, consumer electronics, and many others. Its growing demand in various applications across diverse industries aids the United States semiconductor market growth.

In the United States, significant research and development activities in the semiconductor market contribute to its substantial growth. The research primarily revolves around chip design, electronic design automation, advanced manufacturing equipment, and core intellectual property, collectively boosting market advancements. According to the Semiconductor Industry Association, US-based companies invested about one-fifth of their annual revenue in Research and Development, equalling USD 50.2 billion in 2021.

In addition, the surge in demand for consumer electronic devices, encompassing smartphones, washing machines, LED bulbs, digital cameras, and refrigerators, is leading to the expansion of semiconductor applications. The growing demand for memory chips with semiconductors capable of processing and storing large volumes of data efficiently has further propelled the market expansion. This development aligns with the evolving needs of users who seek faster and more capable semiconductor technologies. Further, rising adoption of hybrid and electric vehicles is expected to drive semiconductor demand from the automobile sector for battery production, among various other operations.

Further, consumer electronics manufacturers are making efforts to develop new facilities in the region to meet the heightened demand for chips. For instance, in January 2024, Samsung opened a semiconductor memory chip research lab in the United States of America.

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Market Breakup by Product and Application:

• Based on products, the market can be divided into sensors/MEMS, microprocessors, optoelectronics, memory, analog/RF/mixed signal, and discrete, among others.

• The market is segmented based on application into automotive, telecommunication, consumer electronics, semiconductor and defence, industrial, cloud computing/data centre, and healthcare, among others.

Key Findings of the Report:

• The United States semiconductor market is being driven by the growing investment in research and development of semiconductors, with a focus on chip design and electronic design automation.

• High disposable incomes, coupled with increasing spending on electronic gadgets support the consumer electronics market growth in the US, further influencing the semiconductor market.

• The rising popularity of hybrid and electric vehicles is further fueling the demand for semiconductors in the automotive sector for different applications.

• Investments by companies and organisations are increasing to drive technological  improvements in semiconductor manufacturing.

Key Offerings of the Report:

• The EMR report gives an overview of the United States semiconductor market the for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) markets for the product and application of semiconductors.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States semiconductor market are Intel Corporation, Samsung Corporation, NVIDIA Corporation, Texas Instruments Incorporated, Broadcom Inc., Micron Technology, Inc., and Yaskawa America, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.