The Semiconductor And Other Electronic Component Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Semiconductor And Other Electronic Component Global Market Report 2024, The semiconductor and other electronic component market size has grown strongly in recent years. It will grow from $1151.27 billion in 2023 to $1242 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to technological advancements, consumer electronics, data centers, iot and industry 4.0.
The semiconductor and other electronic component market size is expected to see strong growth in the next few years. It will grow to $1649.37 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to 5G and beyond, artificial intelligence (AI), semiconductor shortages, green technology, environmental and regulatory factors. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
The rise in demand for consumer electronics is expected to propel the growth of the semiconductor and other components market going forward. Consumer electronics refers to any electronic gadget designed for every day, private, or professional use by consumers or end users. semiconductor components are the foundation of consumer electronics, providing the processing power, memory, connectivity, and specialized features that make these devices versatile, efficient, and capable of meeting the demands of modern consumers. For instance, in January 2023, according to the annual financial report 2022 published by LG, a South Korea-based consumer electronics company, with sales surpassing $60 billion in 2022, LG recorded its biggest annual revenue ever, up 12.9% from 2021, when sales for the first time went over approximately $52.70 billion. Therefore, the rise in demand for consumer electronics drives the semiconductor and other components market.
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The semiconductor and other electronic component market covered in this report is segmented –
1) By Type: Semiconductor And Related Devices; General Electronic Components
2) By Mode: Online; Offline
3) By Sales Channel: OEM; Aftermarket
4) By Application: Automotive; Manufacturing; Other Applications
Subsegments Covered: Integrated Circuits; Memory Chips; Microprocessors; Other Semiconductor And Related Devices
The semiconductor and other electronic component market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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