Market Size of Global Semiconductor Device Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 0.73 Trillion |
| Market Size (2029) | USD 1.07 Trillion |
| CAGR (2024 - 2029) | 8.03 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Semiconductor Device Market Analysis
The Global Semiconductor Device Market size is estimated at USD 0.73 trillion in 2024, and is expected to reach USD 1.07 trillion by 2029, growing at a CAGR of 8.03% during the forecast period (2024-2029).
The semiconductor industry is witnessing rapid growth, with semiconductors emerging as the basic building blocks of all modern technology. The advancements and innovations in this field are resulting in a direct impact on all downstream technologies.
- The semiconductor industry is estimated to continue its robust growth during the forecast period to accommodate the increasing demand for semiconductor materials in emerging technologies, such as artificial intelligence (AI), autonomous driving, Internet of Things, and 5G, coupled with competition among key players and consistent spending on R&D.
- The study covers various semiconductors offered by the vendors and the industries utilizing them. The estimates for the end-user industries are derived based on the type of application the semiconductors provide in that industry.
- The outbreak of COVID-19 across the globe has significantly disrupted the supply chain and production of the studied market in the initial phase of 2020. For circuit and chipmakers, the impact was more severe. Due to labor shortages, many of the package and testing plants in the Asia-Pacific region reduced or even suspended operations. This also created a bottleneck for end-product companies that depend on semiconductors.
- However, according to the Semiconductor Industry Association, after Q1 of 2020, the semiconductor industry started the recovery. Despite logistical challenges related to the coronavirus, semiconductor facilities located in Asia-Pacific continued to function normally with high-capacity rates. Moreover, in various countries, such as South Korea, most semiconductor operations continued uninterrupted, and chip exports grew by 9.4% in February 2020. The COVID-19 pandemic has increased the demand for semiconductors across the consumer electronics and automotive sectors, mainly due to the growing adoption of EVs post-pandemic.
