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Microelectronics Market

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; 2024-2032

Global Microelectronics Market Outlook

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.

 

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 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:

  • Product Type
  • Type
  • Vertical Type
  • Region
Breakup by Product Type
  • Lighting Control
  • Security and Access Control
  • HVAC Control
  • Entertainment Control
  • Others
Breakup by Type
  • Transistors
  • Capacitors
  • Inductors
  • Resistors
  • Others
Breakup by Vertical Type
  • Medical
  • Construction
  • Automotive
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Honeywell International Inc.
  • Jotrin Electronics Limited
  • Ingersoll Rand Inc.
  • Schneider Electric SE
  • Cisco Systems Inc.
  • ACUITY BRANDS, INC.
  • Johnson Controls
  • Others

 

*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.

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 (2018-2023) 
    8.3    Global Microelectronics Market Forecast (2024-2032)
    8.4    Global Microelectronics Market by Product Type
        8.4.1    Lighting Control
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Security and Access Control
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    HVAC Control
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Entertainment Control
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Others
    8.5    Global Microelectronics Market by Type
        8.5.1    Transistors
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Capacitors
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Inductors
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Resistors
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Others
    8.6    Global Microelectronics Market by Vertical Type
        8.6.1    Medical
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Construction
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Automotive
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Others
    8.7    Global Microelectronics Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Microelectronics Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Microelectronics Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Microelectronics Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Microelectronics Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Microelectronics Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    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 2032
2.    Global Microelectronics Historical Market: Breakup by Source (USD Billion), 2018-2023
3.    Global Microelectronics Market Forecast: Breakup by Source (USD Billion), 2024-2032
4.    Global Microelectronics Historical Market: Breakup by Product Type (USD Billion), 2018-2023
5.    Global Microelectronics Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
6.    Global Microelectronics Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7.    Global Microelectronics Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8.    Global Microelectronics Historical Market: Breakup by Application (USD Billion), 2018-2023
9.    Global Microelectronics Market Forecast: Breakup by Application (USD Billion), 2024-2032
10.    Global Microelectronics Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Microelectronics Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Microelectronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Microelectronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Microelectronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Microelectronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Microelectronics Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Microelectronics Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Microelectronics Market Structure

Key Questions Answered in the Report

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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