NEW YORK, Oct. 23, 2017 /PRNewswire/ — KEY FINDINGS
The global semiconductor market was valued at $463.5 billion in 2016 and is projected to reach $831.5 billion by 2024, growing at an estimated CAGR of 7.67%, for the forecast period of 2017-2024. Increasing investments in research and development, growing demand for consumer electronics, and evolving IOT market are all contributing to the market growth.
The global semiconductor market is segmented on the basis of the end-use segment, which is further divided into communications, military & civil aerospace, consumer electronics, data processing, automotive, industrial devices and other end uses. The increasing demand for drones & unmanned autonomous vehicles (UAV’S) is likely to augment the demand for the semiconductor market. However, the market faces some major concerns with respect to the cyclic nature of semiconductor industry, fluctuating foreign exchange rates, and regional imbalance in consumption patterns.
The semiconductor market is geographically spread over United States, Europe, Asia Pacific, Middle East and the Rest of world. Asia-Pacific is the leading market for semiconductors with countries like Taiwan, China, Japan and South Koreabeing its major contributors. Nearly 70% of the globally advanced fabrication plants are located in the Asia-Pacific. The region is also home to leading semiconductor companies like SMIC, Samsung, and TSMC. The Middle East market is predicted to exhibit the fastest growth over the forecast period, driven by the integration of semiconductor into devices across various sectors such as industrial, automotive, military, communications, etc. and the growing demand for consumer electronics.
Some of the leading players in the market are Samsung Electronics, Intel Corporation, Qualcomm Incorporation, Micron Technology, On Semiconductor Corporation, SK Hynix, NXP Semiconductors, Infineon Technologies Ag, Texas Instruments Inc, and Toshiba Corporation.
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