The global Semiconductor Market was valued at USD 600.79 billion in 2022 and expected to reach USD 1022.03 billion by 2031, poised to grow at a compound annual growth rate (CAGR) of 6.7% during the forecast period 2023 to 2031. 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.

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Top Key Players:

·         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)

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.

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Market Segmentation:

Semiconductor Market 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): Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast, 2023-2031

COVID-19 IMPACT:

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.

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