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Historical Year
Forecast Year
The global microelectronics market size reached a value of approximately USD 455.88 billion in 2023. The market is further projected to grow at a CAGR of 5.70% between 2024 and 2032, reaching a value of USD 750.81 billion by 2032.
Microelectronics refers to the field of electronics that includes the study, design, and manufacture of tiny or small electronic components such as power electronics and computer chips. These small devices are generally made from semiconductor materials. Microelectronics finds applications across various industries including automotive, medical, and construction, among others.
Based on product type, the market is segmented into lighting control, security and access control, HVAC control, and entertainment control, among others. On the basis of type, the market is divided into transistors, capacitors, inductors, and resistors, among others. By vertical type, the market is categorised as medical, construction, and automotive, among others. Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global microelectronics market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
The medical segment is anticipated to grow rapidly over the forecast period, with the growing demand for innovative healthcare devices and solutions. Microelectronics finds use in various essential medical devices including X-ray machines, ultrasound machines, glucose monitoring devices, CT scanners, ECG machines, and blood pressure measuring devices, among others. Microelectronics helps devices in data conversion and processing and signal conditioning, among others, and is boosting miniaturisation by shrinking the complete system into a handheld device, thus making personal healthcare easy and convenient. This is aiding the global microelectronics market expansion.
North America accounted for a large share of the market, with several microelectronics producers expanding operations to and within the United States. The governments and manufacturers across North America are increasingly spending on research and development activities, fuelling the progress of microelectronics. Additionally, the rising demand for cars, among other passenger vehicles, is increasing the utilisation of microelectronics across the automotive sector. Moreover, people in the region are becoming aware about the availability of new and advanced technologies and are thus demanding innovative gadgets, resulting in the growth of the microelectronics market in North America.
Honeywell International Inc. was founded in 1906 and is headquartered in North Carolina, United States. It is a multinational company that mainly focuses on four areas of business including aerospace, performance material and technologies, productivity and safety solutions, and building technologies.
Jotrin Electronics Limited is an electronics manufacturing company that was founded in 2006. It is headquartered in Guangdong, China, and is known for manufacturing and distributing electronic components such as capacitors, resistors, and sensors.
Ingersoll Rand Inc. was established in 1859 and has its headquarters located in North Carolina, United States. The air and gas compressor manufacturing company is focussed on providing flow creation and industrial products to the consumers globally.
Other major players in the microelectronics market include Schneider Electric SE, Cisco Systems Inc., ACUITY BRANDS, INC., and Johnson Controls, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by Type |
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Breakup by Vertical Type |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market reached a value of approximately USD 455.88 billion in 2023.
The market is projected to grow at a CAGR of 5.70% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 750.81 billion by 2032.
The key drivers of the market include increased spending on research and development activities, rising demand for passenger and other vehicles, and growing awareness regarding new and advanced technologies.
The key trends of the market include the development of more efficient and compact devices using microelectronics, rising use of artificial intelligence in production processes, and favourable government policies.
The various product types include lighting control, security and access control, HVAC control, and entertainment control, among others.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the microelectronics market are Honeywell International Inc., Jotrin Electronics Limited, Ingersoll Rand Inc., Schneider Electric SE, Cisco Systems Inc., ACUITY BRANDS, INC., and Johnson Controls, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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