Semiconductor Market

Semiconductor Market Size, Share, Trends, Growth, and Industry Analysis, By Component (Memory Devices, Logic Devices, Analog IC, MPU, MCU, Sensors, Discrete Power Devices, Others), By Node Size (180nm, 130nm, 90nm, 65nm, 45/40nm, 32/28nm, 22/20nm, 16/14nm, 10/7nm, 7/5nm, 5nm), By Application (Telecommunication, Defense and Military, Industrial, Consumer Electronics, Automotive, Others), Regional Insights and Forecast to 2032

Electronics & Semiconductor | May 2022 | Report ID: EMR0016 | Pages: 275

global semiconductor market size was USD 600.79 billion in 2022 and is predicted to reach USD 1022.03 billion in 2031, exhibiting at a CAGR of 6.7%.during the forecast period.


 A semiconductor is a material with specific electrical properties that allow it to serve as the foundation for computers and other electronic devices. It is typically a solid chemical element or compound that conducts electricity under certain conditions but not others this makes it an ideal medium to control electrical current and everyday electrical appliances. Semiconductors such as memory chips are the backbone and a prerequisite for any endeavour in emerging technologies. Semiconductors have influenced everything from artificial intelligence (AI) to smartphone reliance, the internet of things (IoT), and 5G. Semiconductors are used to power technologies that enrich the lives of consumers and make businesses run smarter, faster, and more efficiently.

Market Growth

The growth of the semiconductor market is attributed to the increasing consumption of consumer electronics devices across the globe. Additionally, new potential for market expansion is being presented by the development of artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML) technologies. These technologies aid memory chips in processing large amounts of data in less time. Moreover, the increasing demand for faster and more advanced memory chips in industrial applications will drive market growth over the forecast timeline. the growing popularity of electric vehicles and its rising adoption among the consumers is fueling the growth of the global semiconductor market.


Since the start of COVID-19 in early 2020, the industry has faced several challenges to maintain stable growth. The entire technology industry is rebounding from the United States-China trade war and 2019’s down cycle. The International Data Corporation (IDC) estimated a revenue contraction of approximately 7% in 2022 (with a 55% probability) for the global semiconductor industry over the forecast period.

The global semiconductor market has been severely impacted by the outbreak of the COVID-19 pandemic. With governments in several countries imposing and extending lockdowns, production and manufacturing facilities around the world have been shut down due to the crisis and a lack of labor. Furthermore, the outbreak of the pandemic has disrupted the global supply chain, thereby creating a significant gap in the supply chain. The economic impact of the pandemic has been disruptive. Key players in the semiconductor industry experienced a temporary slowdown due to a lack of skilled professionals to develop semiconductor market solutions, resulting in a decline in revenues for the fiscal year 2020 to 2021.


Report Attribute


Projected Market Value (2031)

1022.03 Billion

Estimated Market Value (2022)

600.79 Billion

Base Year


Forecast Years

2024 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Node size, Application, Region

Segments Covered

By Component, By Node size, By Application, and Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.


Component Insights

By component, the semiconductor industry is divided into memory devices, logic devices, analog IC, MPU, MCU, sensors, discrete power devices, and others. The logic devices segment was the highest revenue contributor to the market in 2022. On the other hand, the memory devices segment is estimated to be the fastest growing during the forecast period.  This can be attributed to the rising penetration of digitalization and the rapidly growing number of digital businesses. The burgeoning demand for cloud computing and the rising adoption of virtual reality are expected to boost the growth of this segment during the forecast period.

Application Insights

By application, it is segmented into telecommunication, defense & military, industrial, consumer electronics, automotive, and others. In 2022, the consumer electronics segment was the largest revenue contributor to the market. On the other hand, the automotive industry is expected to be the fastest-growing segment during the forecast period owing to the increased adoption of vehicles in both developed and developing nations.  The demand for private vehicles is extremely high in developed regions like North America owing to the low availability of public transport and the high demand for convenience in commutes among the population. Furthermore, the rising popularity of electric vehicles among global consumers is boosting the demand for electric vehicles, which in turn is expected to augment the demand for semiconductors in the upcoming future.

Regional Analysis

The market can be categorised into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America in terms of region. Region-wise, the semiconductor market trends are analysed across North America (the U.S., Canada, and Mexico), Europe (France, Germany, the UK, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America, specifically the U.S., remains a significant participant in the global industrial semiconductor industry. The country's major organizations and government institutions are investing heavily in technology. 

In 2022, Asia Pacific is expected to dominate the semiconductor market's growth. Asia Pacific has the largest market share and is expected to grow at the fastest rate in the world. Consumer electronics consumption is increasing as a result of increased use of high-end technology-based gadgets and falling electronics prices. Furthermore, because of technological advancements such as IoT and LTE, the region is able to control a large portion of the market.

China holds the largest share in the global semiconductor market and is projected to witness a moderate CAGR in the upcoming years, owing to the surging presence of local semiconductor component manufacturers. These local market players tend toward offering a wide range of products at discounted rates in bulk quantities. Thus, it would augment market growth in China over the forecast period. Because of their strong telecom and automotive industries, North America and Europe are expected to grow at a rapid pace. Rising investments in research and development activities by market players in the US are expected to grow at a rapid pace during the forecast period.

Who are the Major Vendors in the Global Semiconductor Market

The report analyses the competitive landscape of the market and provides information on several market vendors, including:

  • Broadcom Inc. (U.S.)
  • Intel Corporation (U.S.)
  • Qualcomm (U.S.)
  • Samsung Electronics (South Korea)
  • SK Hynix (South Korea)
  • Taiwan Semiconductors (Taiwan)
  • Texas Instruments (U.S.)
  • Toshiba Corporation (Japan)
  • Maxim Integrated Products Inc. (U.S.)
  • Micron Technology (U.S.)
  • NVIDIA Corporation (U.S.)
  • NXP Semiconductors N.V. (Netherlands)

Recent Developments:

  • Toshiba Electronic Devices & Storage Corporation has introduced the M4G Group of Arm Cortex-M4 Microcontrollers for high-speed data processing products in the TXZ+TM Family Advanced Class.
  • Toshiba Electronic Devices and Storage Corporation has introduced the TC78H670FTG, the latest addition to its portfolio of micro-stepping integrated circuits. This new integrated circuit will power a 128 micro-stepping motor from 2.5V to 16V.
  • Qualcomm Technologies, Inc., a Qualcomm Incorporated subsidiary, introduced the 'Qualcomm QCS410' and 'Qualcomm QCS610' system-on-chips (SoCs). These chips are intended for high-end camera technology, with powerful machine learning and artificial intelligence features.

Segments Covered in the Report


  • Memory Devices
  • Logic Devices
  • Analog IC
  • MPU
  • MCU
  • Sensors
  • Discrete Power Devices
  • Others

Node Size

  • 65nm
  • 45/40nm
  • 32/28nm
  • 22/20nm
  • 16/14nm
  • 10/7nm
  • 7/5nm
  • 180nm
  • 130nm
  • 90nm
  • 5nm


  • Telecommunication
  • Defense and Military
  • Industrial
  • Consumer Electronics
  • Automotive
  • Others

Regional Outlook

Asia Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others


  • Norway
  • Netherlands
  • Sweden
  • United Kingdom
  • France
  • Germany
  • Others

North America

  • United States
  • Canada

Middle East and Africa

  • Turkey
  • Saudi Arabia
  • Iran
  • United Arab Emirates
  • Others

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Others

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

Consumer electronics is considered to be the leading application of Semiconductor Market.
Econ Market Research says that the global market was USD 600.79 Billion in 2022.
Broadcom, Inc., Intel Corporation, Toshiba Corporation and Qualcomm are the top players in this market.
Asia Pacific dominated the global semiconductors market and is estimated to sustain its dominance during the forecast period.

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