Meticulous Research®—a leading global market research company, published a research report titled, ‘Semiconductor and Circuit Manufacturing Market by Component (Memory, Logic, Analog, Micro), Semiconductor (Intrinsic, Extrinsic), Material (Silicon, Germanium), Application (Consumer, Automotive, Industrial), & Geography - Global Forecast to 2031.’
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According to this latest publication from Meticulous Research®, the global semiconductor and circuit manufacturing market is projected to reach $1,056.7 billion by 2031, at a CAGR of 8.7% during the forecast period. The growth of the semiconductor and circuit manufacturing market is attributed to the growing technological advancements with rising acceptance of connected devices, increasing government initiatives aimed at boosting the semiconductor industry, and increasing utilization of semiconductors in EV manufacturing. However, the complexity of patterns and functional defects in semiconductor chips restrain the market’s growth.
Moreover, the adoption of 5G technology and increasing integration of AI and ML technologies are significant opportunities for the growth of the global semiconductor and circuit manufacturing market. However, the construction of user-friendly designs with thin film coating to maintain easy integration and the shortage of skilled workforce may hinder the market's growth.
Key Findings in the Global Semiconductor and Circuit Manufacturing Market Study:
The Memory Segment to Register the Highest CAGR During the Forecast Period
Based on component, the memory segment is projected to register the highest CAGR during the forecast period. The segment’s growth can be attributed to the increasing demand for electronic devices, growing developments by market players in disruptive technologies, including AI, big data analytics, and cloud computing, the growing proliferation of smartphones, and the rising adoption of memory devices in data centers.
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In 2024, the Extrinsic Semiconductor Segment is Expected to Dominate the Global Semiconductor and Circuit Manufacturing Market
Based on type, the global semiconductor and circuit manufacturing market is segmented into intrinsic semiconductors and extrinsic semiconductors. In 2024, the extrinsic semiconductor segment is expected to account for the largest share of the global semiconductor and circuit manufacturing market. The large market share of this segment is attributed to the constantly growing demand from the energy sector coupled with the rising usage of extrinsic semiconductors in power electronics devices and the high demand and criticality of these semiconductors in the fabrication process of advanced electronics components such as transistors, diodes, and integrated circuits, among others.
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The Silicon Carbide Segment to Register the Highest CAGR During the Forecast Period
Based on material type, the silicon carbide segment is projected to register the highest CAGR during the forecast period. The segment's growth is attributed to the increasing usage of power electronics devices, the increasing implementation of EV motors, and the growing demand for SiC-based photovoltaic cells, particularly in developing countries.
In 2024, the Data Processing Electronics Segment is Expected to Dominate the Global Semiconductor and Circuit Manufacturing Market
Based on application, the global semiconductor and circuit manufacturing market is segmented into data processing electronics, communication electronics, consumer electronics, automotive electronics, industrial electronics, and military and civil aerospace. In 2024, the data processing electronics segment is expected to account for the largest share of the global semiconductor and circuit manufacturing market. The large market share of this segment is attributed to the high demand for semiconductors in data processing electronics devices, including computers, ultra-mobiles, tablets, servers, and storage devices. In addition, the proliferation of mobile phones and other connected devices is expected to accelerate the demand for memory and storage devices, in turn encouraging the growth of the semiconductor devices market for data processing electronics applications.
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Asia-Pacific is Expected to Register the Highest CAGR During the Forecast Period
Based on geography, Asia-Pacific is projected to register the highest CAGR during the forecast period. This region's growth is attributed to the presence of multiple local and international market players, high consumption of semiconductors and circuits by major electronic components and telecommunication hardware manufacturers, increasing adoption of solar panels and electric vehicles, and the large scale of the electronics manufacturing industry in the region.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by major market players in the last three to four years. The key players profiled in the global semiconductor and circuit manufacturing market study 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.), Semiconductor Components Industries, LLC (U.S.), Advanced Micro Devices, Inc. (U.S.), Analog Devices, Inc. (U.S.), Renesas Electronics Corporation (Japan), and NXP Semiconductors N.V. (Netherlands).
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