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Semiconductor Market Revenues to Reach USD 1.21 trillion by 2029 – Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

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Semiconductor Market Revenues to Reach USD 1.21 trillion by 2029 – Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

February 22
16:40 2024
Semiconductor Market Revenues to Reach USD 1.21 trillion by 2029 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

According to the latest research report titled, “Semiconductor Market (2024 – 2029)” by Mordor Intelligence, the aviation market is estimated at USD 0.72 trillion in 2024 and growing at a CAGR of 10.86% during the forecast period. 

The semiconductor sector is expected to undergo robust expansion in the coming years due to increasing demand for semiconductor materials in emerging fields such as artificial intelligence (AI), autonomous vehicles, the Internet of Things (IoT), and 5G technology. This growth is propelled by fierce competition among major industry players and continual investment in research and development (R&D). Consequently, companies are continuously motivated to innovate and secure a competitive edge within the market. 

The semiconductor sector is facing a growing demand for skilled workers, with projections suggesting a need for over one million additional skilled personnel by 2030 to meet industry requirements. Moreover, the industry is marked by lengthy lead times and substantial capital investments. Shortages in the supply chain have arisen due to manufacturing capacity constraints and shifts in demand, posing challenges to the market’s expansion. 

Report Summary 

  • Market Size (2024): USD 0.72 Trillion 
  • Market Size (2029): USD 1.21 Trillion 
  • CAGR (2024 – 2029): 10.86% 
  • Study Period: (2020-2029) 
  • Forecast Units: Value (USD Trillion)   
  • Report Scope: Market Dynamics, Revenue Forecast & Segmentation, Competitive Landscape & Recent Developments, Market Growth, Future Opportunities, and Trends    
  • Market Drivers: Increasing Needs for Consumer Electronic Devices Boosting the Manufacturing Prospects, Proliferation of AI, IoT, and Connected Devices Across Industry Verticals, Increased Applications of Semiconductors in Automotive, Increased Deployment of 5G, and Rising Demand for 5G Smartphones 

Which are the Top Companies in the Semiconductor Market?     

The semiconductor industry is characterized by significant players such as Intel Corporation, Samsung Electronics Co. Ltd, Qualcomm Incorporated, Micron Technology Inc., and SK Hynix Inc., which contribute to its partially consolidated landscape. In October 2023, Micron significantly expanded its 1β process node technology by introducing the 16Gb DDR5 memory. Rigorously tested and validated for in-system functionality at speeds of up to 7,200 MT/s, this new product is now being shipped to Micron’s data center and PC clientele.  

Prominent players in the semiconductor market: 

  • Intel Corporation 
  • Samsung Electronics Co. Ltd 
  • Qualcomm Incorporated 
  • Micron Technology Inc. 
  • SK Hynix Inc. 
  • Texas Instruments Incorporated 
  • Broadcom Inc. 
  • Mediatek Inc. 
  • Applied Materials Inc. 
  • ASML Holding NV 
  • Tokyo Electron Limited 
  • Lam Research Corporation 
  • KLA Corporation 
  • Advantest Corporation 
  • Screen Holdings Co. Ltd 
  • Teradyne Inc. 
  • BASF SE 
  • LG Chem Ltd 
  • Indium Corporation 
  • Resonac Holding Corporation 
  • Kyocera Corporation 
  • Henkel AG & Co. KGaA 
  • Sumitomo Chemical Co. Ltd 
  • Dow Chemical Co. (Dow Inc.) 
  • Taiwan Semiconductor Manufacturing Company (TSMC) Limited 
  • Samsung Foundry (Samsung Electronics Co. Ltd) 
  • United Microelectronics Corporation (UMC) 
  • GlobalFoundries Inc. 
  • Semiconductor Manufacturing International Corporation (SMIC) 
  • Hua Hong Semiconductor Limited 
  • Powerchip Technology Corporation 
  • ASE Technology Holding Co.Ltd 
  • Amkor Technology Inc. 
  • Jiangsu Changjiang Electronics Technology Co. Ltd 
  • Powertech Technology Inc. 
  • Tongfu Microelectronics Co. Ltd 
  • Tianshui Huatian Technology Co. Ltd 
  • King Yuan Electronics Co. Ltd 

Other Reports that Might be of Your Interest 

  • Advanced Packaging Market Report: The Advanced Packaging Market size is estimated at USD 32.64 billion in 2024, and is expected to reach USD 45 billion by 2029, growing at a CAGR of 6.63% during the forecast period (2024-2029) 
  • Hybrid Memory Cube Market Report: The Hybrid Memory Cube Market size is estimated at USD 1.45 billion in 2024, and is expected to reach USD 2.92 billion by 2029, growing at a CAGR of 15.11% during the forecast period (2024-2029)  

Key Highlights from the Semiconductor Market Report 


1. Discrete Semiconductors: Significant Market Share in Devices Segment 

  • Increasing demand for power-efficient devices, alongside the rise of wireless electronics and electrification in automotive, propels segment growth. 
  • One of the significant trends in discrete semiconductors is Enhanced power management with improved AC-DC adapter efficiency and smaller designs. 
  • Power-over-Ethernet standards facilitate higher power transfer, fostering development of devices like connected lighting. 
  • MOSFET has always played an important part in the telecom sector, as switching power supply is the most prevalent application for power MOSFETs, which are also commonly utilized for MOS RF power amplifiers, allowing mobile networks to move from analog to digital. 
  • In the first quarter of 2022, Ericsson reported a surge of 70 million new 5G subscriptions, bringing the total to approximately 620 million. 
  • Further, the demand for IGBT among various discrete semiconductors has been gaining traction and is widely used in low-power converters.  
  • The most popular semiconductor switches for power conversion in automotive, other motor drives, and renewable energy systems are discrete IGBTs.  
  • The increasing demand for consumer electronic appliances like UPSs, power conditioners, air conditioners, etc., which use discrete IGBT types for lower-current applications, is credited with driving the growth of the discrete IGBT market. 

2. Fabrication’s Dominance in Semiconductor Materials Market 

One of the primary factors driving the demand for semiconductor fabrication materials is the increasing use of digitally integrated ICs in the electrical, electronics, automotive, and telecommunication industries. Moreover, heightened investments in the energy sector are poised to drive this segment’s growth further. Semiconductors find extensive applications in solar panels, drives, pumps in wind and water turbines, and protection circuits in energy conversion processes to enhance efficiency and minimize power loss. For instance, the International Energy Agency (IEA) projects a notable 8% surge in global energy investment which reached USD 2.4 trillion in 2022. Additionally, the International Renewable Energy Agency (IRENA) forecasts a steady increase in spending on renewable energy, further propelling market expansion. 

What are the Latest Developments in the Semiconductor Market?    

  • In September 2023: witnessed Intel Foundry Services (IFS) and Tower Semiconductor, a notable provider of analog semiconductor solutions, announcing a collaboration. Intel will extend its foundry services and 300mm manufacturing capacity to assist Tower in catering to its global clientele. 
  • In May 2023: Micron Technology, Inc. announced its adoption of Extreme Ultraviolet (EUV) technology, a sophisticated patterning technique for producing its 1-gamma node DRAM. Given the pivotal role of its Hiroshima fab in advancing the 1-gamma node, Micron became the first semiconductor manufacturer to introduce EUV technology to Japan for manufacturing purposes.  

Mordor Intelligence Report on the Semiconductor Market segments the market based on product type, application, and geography: 

  • By Semiconductor Devices 
  • Discrete Semiconductors 
  • Optoelectronics Sensors  
  • Integrated Circuits 
  • By Semiconductor Equipment 
  • Front-end Equipment 
  • Back-end Equipment 
  • By Semiconductor Materials 
  • Fabrication 
  • Packaging 

In a nutshell, the Mordor Intelligence Market Research Report provides in-depth market insight to industry players, investors, researchers, consultants, and business strategists, looking for comprehensive details on the semiconductor industry. Get a glance at the Semiconductor Market Report (2024 – 2029) 

About Mordor Intelligence 

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.  

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence uniquely understands the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.   

Other Related Reports that Might be of Interest 

  • Semiconductor Packaging Market Report: The Semiconductor Packaging Market size is estimated at USD 47.22 billion in 2024, and is expected to reach USD 79.37 billion by 2029, growing at a CAGR of 10.95% during the forecast period (2024-2029) 
  • Intelligent Power Module Market Report: The Intelligent Power Module Market size is estimated at USD 2.12 billion in 2024, and is expected to reach USD 3.63 billion by 2029, growing at a CAGR of 9.87% during the forecast period (2024-2029) 

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