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.’
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.
Meticulous Research® has segmented this market based on component, type, material type, application, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on component, the global semiconductor and circuit manufacturing market is segmented into memory, logic, analog, micro, optoelectronics, discrete, sensors, and DSP. In 2024, the logic 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 higher adoption of logic semiconductors in consumer electronics, data processing devices, communications systems, and the automotive sector and rising technological developments in special-purpose application-specific integrated circuit (ASIC) and application-specific signal processor (ASSP) logic chips.
However, the memory segment is projected to register the highest CAGR during the forecast period. The growth of the segment is 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.
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. Moreover, the segment is also projected to register the highest CAGR during the forecast period.
Based on material type, the global semiconductor and circuit manufacturing market is segmented into silicon, germanium, gallium arsenide, silicon carbide, and other material types. In 2024, the silicon 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 a wide range of applications across several industries such as telecommunication, aerospace, and electronics, rising demand for silicon-based sensors for IoT devices, growing demand for nanodevices, increasing adoption of 5G technology, and easy availability of silicon-based semiconductors owing to the presence of a large number of players.
However, 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.
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.
However, the automotive electronics segment is projected to register the highest CAGR during the forecast period. The growth of the segment is attributed to the proliferation of safety electronics & infotainment systems and the surge in the demand for semiconductor devices in automotive, such as MCUs, sensors, and memory devices.
Based on geography, the global semiconductor and circuit manufacturing market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of the global semiconductor and circuit manufacturing market. The presence of multiple local as well as international market players in the region, high utilization 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 are the major factors driving the growth of the semiconductor and circuit manufacturing market in the Asia Pacific region. Moreover, this region is also projected to register the highest CAGR during the forecast period.
Key Players:
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.), 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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Key questions answered in the report:
• Which are the high-growth market segments in terms of component, type, material type, application, and geography?
• What is the historical market for semiconductor and circuit manufacturing?
• What are the market forecasts and estimates for the period 2024–2031?
• What are the major drivers, restraints, and opportunities in the global semiconductor and circuit manufacturing market?
• Who are the major players in the global semiconductor and circuit manufacturing market, and what are their market shares?
• What is the competitive landscape like?
• What are the recent developments in the global semiconductor and circuit manufacturing market?
• What are the different strategies adopted by key players in this market?
• What are the geographic trends and high-growth regions in the market?
• Who are the emerging players in the global semiconductor and circuit manufacturing market, and how do they compete with the other players?
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