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Global Microelectronics Market Size, Share, Growth, Forecast: By Product Type: Lighting Control, Security and Access Control, HVAC Control, Entertainment Control, Others; By Type: Transistors, Capacitors, Inductors, Resistors, Others; By Vertical Type: Medical, Construction, Automotive, Others; Regional Analysis; Competitive Landscape; 2023-2028
Global Microelectronics Market Outlook
The global microelectronics market size reached a value of approximately USD 431.3 billion in 2022. The market is further projected to grow at a CAGR of 5.70% between 2023 and 2028, reaching a value of USD 601.49 billion by 2028.
Key Trends in the Market
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.
- Microelectronics enables the development of devices that are compact, energy efficient, and faster than the traditional ones. The increasing demand for modern gadgets that are lightweight, portable, and affordable across industries is thus favouring the growth of the market.
- The microelectronics sector has been positively influenced by advances within the industry, particularly the evolution of the integrated circuit/ semiconductor IC. With the governments across developing countries supporting the semiconductor sector by providing economic benefits including tax breaks and subsidies, the microelectronics market is likely to grow in the coming years.
- The use of artificial intelligence in microelectronics is paving the way for developing accurate and more efficient devices from semiconductor materials, resulting in improved product efficiency and increased profits.
Market Analysis
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.
- Honeywell International Inc.
- Jotrin Electronics Limited
- Ingersoll Rand Inc.
- Schneider Electric SE
- Cisco Systems Inc.
- ACUITY BRANDS, INC.
- Johnson Controls
- Others
Market Share by Vertical Type
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.
Market Share by Region
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.
Competitive Landscape
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.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Type |
|
| Breakup by Vertical Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Microelectronics Market Analysis
8.1 Key Industry Highlights
8.2 Global Microelectronics Historical Market (2018-2022)
8.3 Global Microelectronics Market Forecast (2023-2028)
8.4 Global Microelectronics Market by Product Type
8.4.1 Lighting Control
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Security and Access Control
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 HVAC Control
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Entertainment Control
8.4.4.1 Historical Trend (2018-2022)
8.4.4.2 Forecast Trend (2023-2028)
8.4.5 Others
8.5 Global Microelectronics Market by Type
8.5.1 Transistors
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Capacitors
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Inductors
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Resistors
8.5.4.1 Historical Trend (2018-2022)
8.5.4.2 Forecast Trend (2023-2028)
8.5.5 Others
8.6 Global Microelectronics Market by Vertical Type
8.6.1 Medical
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Construction
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Automotive
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global Microelectronics Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Microelectronics Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Microelectronics Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Microelectronics Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Microelectronics Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Microelectronics Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Honeywell International Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Jotrin Electronics Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Ingersoll Rand Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Schneider Electric SE
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Cisco Systems Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 ACUITY BRANDS, INC.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Johnson Controls
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Microelectronics Market: Key Industry Highlights, 2018 and 2028
2. Global Microelectronics Historical Market: Breakup by Source (USD Billion), 2018-2022
3. Global Microelectronics Market Forecast: Breakup by Source (USD Billion), 2023-2028
4. Global Microelectronics Historical Market: Breakup by Product Type (USD Billion), 2018-2022
5. Global Microelectronics Market Forecast: Breakup by Product Type (USD Billion), 2023-2028
6. Global Microelectronics Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2022
7. Global Microelectronics Market Forecast: Breakup by Distribution Channel (USD Billion), 2023-2028
8. Global Microelectronics Historical Market: Breakup by Application (USD Billion), 2018-2022
9. Global Microelectronics Market Forecast: Breakup by Application (USD Billion), 2023-2028
10. Global Microelectronics Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Microelectronics Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Microelectronics Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Microelectronics Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Microelectronics Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Microelectronics Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Microelectronics Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Microelectronics Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 431.3 billion in 2022.
The market is projected to grow at a CAGR of 5.70% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 601.49 billion by 2028.
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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