Semiconductor and Circuit Manufacturing Market by Component (Memory, MPU, MCU, DSP), Semiconductor (Intrinsic, Extrinsic), Material (Silicon, Germanium), Application (Consumer, Automotive, Industrial, Military and Civil Aerospace) - Global Forecast to 2027
Redding, California, Jan. 19, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled “Semiconductor and Circuit Manufacturing Market by Component (Memory, MPU, MCU, DSP), Semiconductor (Intrinsic, Extrinsic), Material (Silicon, Germanium), Application (Consumer, Automotive, Industrial, Military & Civil Aerospace) - Global Forecast to 2027”, published by Meticulous Research®, the semiconductor and circuit manufacturing market is expected to grow at a CAGR of 4.3% from 2020 to 2027 to reach $522.7 billion by 2027.
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Semiconductor industry has long been considered as one of the largest contributors in the global technological developments and it is expected to continue its steady growth over the coming years despite adverse impact of COVID-19 pandemic. Semiconductor and circuit manufacturing market is the in-depth market analysis of the semiconductor industry based on the components, types, material types, and applications, across different geographies. The study mainly focuses on the different types of semiconductor and different materials used for the manufacturing of semiconductor components used in numerous applications.
The growth of semiconductor and circuit manufacturing market is primarily driven by factors, such as enhancements in the adoption of promising technologies including AI, IoT, big data analytics, drone & robotics, cloud computing, as well as 5G technology coupled with decreasing prices of semiconductors, and high competition among players operating in this industry. Furthermore, increasing strategic collaboration among semiconductor vendors and electronics devices manufacturers, increasing investment in R&D to strengthen product portfolio and their position in the global market is also encouraging the demand for semiconductor and circuit manufacturing market. Proliferation of electronics and connected devices, increasing demand for electric and hybrid vehicles and consistently increasing demand for IT hardware & office automation products & consumer electronics including mobile phones, automotive products is also expected to support growth of the semiconductor and circuit manufacturing market during the forecast period.
However, construction of handy design with thin film coating, maintain easy integration of semiconductor chips with rapidly changing functionality owing technological advancements, and serious impact of COVID-19 pandemic worldwide will create some challenges on the demand of this market in the approaching years.
Growing technological advancements with rising acceptance of connected devices to propel the growth of the market
As technological growth is widening the application areas of semiconductor devices, the rising acceptance and adoption of connected devices is also providing promising growth prospects for the semiconductor and circuit manufacturing industry. Advancements in modern technologies such as AI, IoT, big data analytics, and cloud computing and its increasing integration with electronics devices is encouraging the demand of semiconductor and circuit manufacturing products. In 2019, NXP Semiconductor N.V., a global semiconductor company in partnership with iDevices, the smart home division of Hubbell Inc. build Alexa Voice Service (AVS) Integration for Amazon Web Services (AWS) IoT Core, the world’s first microcontroller (MCU)-enabled smart home IoT device with Alexa Built-in. In addition, emergence of innovative technologies including 5G technology, robotics, and drone technology for various applications in this industry is increasingly creating opportunities for integration of connected devices to further improve user experience.
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Leading players in the global semiconductor and circuit manufacturing market are constantly focusing on bringing innovative connected platform integrated with advanced technologies to expand their product offering, increase market share, and enhance the overall customer experience. Thus, rapidly increasing demand for semiconductor components in connected devices owing to rapid technological advancements is encouraging the leading players in the semiconductor and circuit manufacturing technology market to put more efforts towards enhancing the technology and rapidly expand the applications of this technology across different sectors.
To provide efficient analysis, Meticulous Research® has segmented this market based on component (memory, logic, analog, MPU, optoelectronics, discrete, MCU, sensor, DSP), semiconductor (intrinsic, extrinsic), material type (silicon, germanium, gallium arsenide, silicon carbide, others), application (data processing electronics, communication electronics, industrial electronics, consumer electronics, automotive electronics, military and civil aerospace), and geography.
Based on component, the memory device commanded the largest share of the overall semiconductor and circuit manufacturing market in 2021, owing to increasing consumption of electronic devices, developments in the disruptive technologies including AI, big data analytics, storage devices, and cloud computing among others; increasing number of smartphones; and rising adoption of memory devices in data centers. However, increasing usage of optoelectronics chips in complementary metal-oxide semiconductor (CMOS) image sensors for various applications such as embedded cameras, LED lighting solutions, automotive safety, and rapidly transforming market for several residential, commercial, and industrial applications is expected to drive the demand for optoelectronics at the fastest CAGR during the forecast period.
Based on type, the extrinsic semiconductor commanded the largest share of the overall semiconductor and circuit manufacturing market in 2021, owing to growing implementation of extrinsic semiconductor in the several devices such as lasers, solar cells, LED, and photodetectors, and high demand owing to a vital element in the fabrication process of advanced electronics components such as transistors, diodes, and integrated circuits among others. In addition, technological advancement in the extrinsic semiconductor and rising adoption in electronics applications due to better efficiency is also expected to contribute to the fastest growth of this market over the forecast period.
Based on material type, the silicon material commanded the largest share of the overall semiconductor and circuit manufacturing market in 2021, owing to the increasing implementation of silicon material across various electronic devices; a wide range of applications in several industries such as communication, aerospace, and electronics among others; rising demand of small-sized devices; and increasing strategic collaborations among technology-based companies. However, increasing usage of power electronics devices, increasing implementation for EV motors, and growing demand of SiC-based photovoltaic cells particularly in developing countries is expected to drive the demand for silicon carbide material at the highest CAGR during the forecast period.
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Based on application, the data processing electronics application commanded the largest share of the overall semiconductor and circuit manufacturing market in 2021, owing to the increasing demand of semiconductor in the data processing electronics devices including computers, ultra-mobiles, tablets, servers and storage device along with its easy integration with semiconductor devices. In addition, proliferation of mobile phones and other connected devices will be expected to accelerate the demand for memory card and storage devices, which in turn, increasing the demand of semiconductor for data processing electronics application. However, proliferation of safety electronics & infotainment systems, and surge in the demand for several semiconductor devices in automotive such as MCUs, sensors, and memory among others will encourage the growth of automotive electronics applications at the fastest CAGR during the forecast period.
Based on geography, Asia Pacific region accounted for the largest share of the overall semiconductor and circuit manufacturing market in 2021. The large share of the Asia-Pacific region is attributed to the easy availability of semiconductor equipment owing to the presence of major players along with several emerging startups in the region, high consumption of semiconductor devices, rapidly increasing economy, proliferation of mobile devices, and increasing mobile communications. In addition, rapidly increasing adoption of electric vehicles and solar panels coupled with promising government policies & regulations, technological advancements along with high adoption of modern technologies, and presence of the world’s largest purchaser and importer of chips such as China are also contributing towards the further growth of this market in Asia Pacific region in the coming years.
The key players operating in the global semiconductor and circuit manufacturing market are Samsung Electronics Co. Ltd. (South Korea), Intel Corporation (U.S.), Taiwan Semiconductor Manufacturing Company (Taiwan), SK Hynix Inc. (South Korea), Micron Technology, Inc. (U.S.), Broadcom Inc. (U.S.), Qualcomm Technologies, Inc. (U.S.), Texas Instruments Inc. (U.S.), Toshiba Corporation (Japan), NVIDIA Corporation (U.S.), ON Semiconductor (U.S.), Advanced Micro Devices, Inc. (U.S.), Analog Devices, Inc. (U.S.), Renesas Electronics Corporation (Japan), and NXP Semiconductors N.V. (Netherlands), etc. among others.
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Scope of the Report
Semiconductor And Circuit Manufacturing Market, by Component
Microcontroller Unit (MCU)
Semiconductor and Circuit Manufacturing Market, by Type
Semiconductor and Circuit Manufacturing Market, by Material Type
Semiconductor and Circuit Manufacturing Market, by Application
Data Processing Electronics
Military and Civil Aerospace
Semiconductor and Circuit Manufacturing Market, by Geography
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa
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