Institution: The global semiconductor scale is expected to reach 673.1 billion US dollars in 2024, with six major growth trends
According to a report released by research firm Market.us, the global semiconductor market is expected to grow significantly, reaching $673.1 billion by 2024. In addition, the compound annual growth rate from 2023 to 2032 is expected to reach 8.8%. By 2032, the semiconductor market is expected to grow to $1.3 trillion. The institution believes that the significant growth trend of semiconductors in recent years is due to increased demand, technological advancements, and widespread adoption of IoT devices. At the same time, the demand for remote work and learning during the epidemic has also driven further expansion of the semiconductor market.
Market.us makes predictions for the future global semiconductor market, stating that several factors are driving market growth:
1. Technological progress and continuous innovation have driven growth. Chipmakers focus on producing smaller, faster and more efficient semiconductors. The progress of artificial intelligence, the Internet of Things, autonomous vehicle and 5G networks has brought opportunities and stimulated the pursuit of semiconductor solutions.
2. The semiconductor market is driven by the growing demand for electronic devices in various industries. Industries such as automobiles, healthcare, automation, and aerospace heavily rely on semiconductor components. In addition, the sustained growth of the consumer electronics market and the widespread integration of electronic products in various applications have greatly promoted the expansion of the semiconductor industry.
3. The expansion of cloud computing and data centers has driven the semiconductor market. The increasing popularity of cloud services has driven the demand for high-performance processors, storage chips, and other semiconductor components.
4. The automotive industry is developing towards new energy vehicles and autonomous vehicle. In vehicle entertainment systems and ADAS advanced driving assistance systems have increased the demand for semiconductors.
5. The emergence of new technologies and applications, such as virtual reality VR, augmented reality AR, hybrid reality MR, and the Internet of Things, has also created a demand for semiconductor components.
6. The measures and investments taken by countries and regions around the world to enhance semiconductor manufacturing capabilities, especially in the United States and Europe, also support market growth.
Market. us indicates that the growth of data intensive industries such as artificial intelligence, machine learning, and big data analysis has stimulated the demand for high computing power and high-speed semiconductors; The development of the Internet of Things and 5G also requires more advanced and energy-efficient semiconductors to support it. The demand for sensors is also constantly increasing, covering consumer grade devices, biomedical applications, drones, robots and other fields. In addition, it is expected that the demand for semiconductors in the automotive industry will also grow rapidly.
1. Technological progress and continuous innovation have driven growth. Chipmakers focus on producing smaller, faster and more efficient semiconductors. The progress of artificial intelligence, the Internet of Things, autonomous vehicle and 5G networks has brought opportunities and stimulated the pursuit of semiconductor solutions.
2. The semiconductor market is driven by the growing demand for electronic devices in various industries. Industries such as automobiles, healthcare, automation, and aerospace heavily rely on semiconductor components. In addition, the sustained growth of the consumer electronics market and the widespread integration of electronic products in various applications have greatly promoted the expansion of the semiconductor industry.
3. The expansion of cloud computing and data centers has driven the semiconductor market. The increasing popularity of cloud services has driven the demand for high-performance processors, storage chips, and other semiconductor components.
4. The automotive industry is developing towards new energy vehicles and autonomous vehicle. In vehicle entertainment systems and ADAS advanced driving assistance systems have increased the demand for semiconductors.
5. The emergence of new technologies and applications, such as virtual reality VR, augmented reality AR, hybrid reality MR, and the Internet of Things, has also created a demand for semiconductor components.
6. The measures and investments taken by countries and regions around the world to enhance semiconductor manufacturing capabilities, especially in the United States and Europe, also support market growth.
Market. us indicates that the growth of data intensive industries such as artificial intelligence, machine learning, and big data analysis has stimulated the demand for high computing power and high-speed semiconductors; The development of the Internet of Things and 5G also requires more advanced and energy-efficient semiconductors to support it. The demand for sensors is also constantly increasing, covering consumer grade devices, biomedical applications, drones, robots and other fields. In addition, it is expected that the demand for semiconductors in the automotive industry will also grow rapidly.
According to the types of semiconductor products, there is a high demand for storage devices, and it is expected to achieve the fastest growth rate in the future; The market share in the MPU and MCU fields remains the largest, accounting for approximately 34% in 2022.
In terms of process nodes, as of 2022, 16/14nm is the mainstream in the market, accounting for 28% of the market share. The current transistor density of TSMC's 5nm process can reach 171.3 million per square millimeter, and it is expected that TSMC and Samsung's 3nm nodes will grow in the future.
Based on analysis from various regions around the world, institutions indicate that the Asia Pacific region will dominate the global semiconductor market in 2023, with a share of over 51.5%. North America also plays a crucial role in semiconductor design and innovation, serving as the location of major practitioners and cutting-edge research institutions. Although the European market share is relatively small, it focuses on semiconductors in the automotive and industrial sectors, emphasizing quality and precision. Although Latin America is an emerging player, the consumer electronics and automotive industries are growing, driving the gradual increase in semiconductor demand. Finally, the Middle East and Africa are steadily developing, with investments in infrastructure and smart city plans driving demand for advanced semiconductors.
In terms of process nodes, as of 2022, 16/14nm is the mainstream in the market, accounting for 28% of the market share. The current transistor density of TSMC's 5nm process can reach 171.3 million per square millimeter, and it is expected that TSMC and Samsung's 3nm nodes will grow in the future.
Based on analysis from various regions around the world, institutions indicate that the Asia Pacific region will dominate the global semiconductor market in 2023, with a share of over 51.5%. North America also plays a crucial role in semiconductor design and innovation, serving as the location of major practitioners and cutting-edge research institutions. Although the European market share is relatively small, it focuses on semiconductors in the automotive and industrial sectors, emphasizing quality and precision. Although Latin America is an emerging player, the consumer electronics and automotive industries are growing, driving the gradual increase in semiconductor demand. Finally, the Middle East and Africa are steadily developing, with investments in infrastructure and smart city plans driving demand for advanced semiconductors.