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

Semiconductor and Circuit Manufacturing Market Size & Forecast

The Semiconductor and Circuit Manufacturing Market is projected to reach $1,056.7 billion by 2031, at a CAGR of 8.7% from 2024 to 2031. The growth of the semiconductor and circuit manufacturing market is attributed to the 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 offer 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.

Rising Acceptance of Connected Devices Drives the Growth of the Global Semiconductor and Circuit Manufacturing Market

As technological growth is widening, the application areas of semiconductor devices and the rising adoption of connected devices are providing promising growth prospects for the semiconductor and circuit manufacturing industry. Advancements in modern technologies such as AI, ML, IoT, 5G, big data analytics, and cloud computing and its increasing integration with electronic devices are encouraging the growth of the semiconductor and circuit manufacturing market. The players operating in this market are continuously innovating their portfolios in order to meet the evolving technological requirements of the electronics industry. The emergence of innovative technologies, including 5G technology, robotics, and drone technology for various applications in this industry, is increasingly creating opportunities for the integration of connected devices to further improve user experience, thereby enhancing the growth opportunities for the semiconductor and circuits manufacturing industry.

The increasing adoption of connected devices such as smartphones, smart home systems, and wearables significantly contributes to the development of processing chips, software, and sensors, which are required for collecting data and sharing it with other devices. The increasing incorporation of integrated circuits in electronic devices supports market growth. Leading players in the global semiconductor and circuit manufacturing market are constantly focusing on bringing innovative integrated circuits for connected devices to expand their product offerings, increase market share, and enhance the overall customer experience. For instance, in March 2023, Silicon Laboratories (U.S.) launched two IC families, namely, the xG27 family of Bluetooth systems on chip (SoCs) and the BB50 microcontroller unit (MCU) designed for next-generation internet of things (IoT) devices, connected medical devices, wearables, asset monitoring tags and smart sensors, and consumer electronics. Such developments support the growth of the semiconductor and circuit manufacturing market during the forecast period.

Click here to: Get Free Sample Pages of this Report

Key Findings in the Global Semiconductor and Circuit Manufacturing Market Study:

The Memory Segment to Register the Highest CAGR During the Forecast Period

Based on component, the memory segment is projected to register the highest CAGR during the forecast period. The segment’s growth can be 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.

In 2024, the Extrinsic Semiconductor Segment is Expected to Dominate the Global Semiconductor and Circuit Manufacturing Market

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.

The Silicon Carbide Segment to Register the Highest CAGR During the Forecast Period

Based on material type, 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.

In 2024, the Data Processing Electronics Segment is Expected to Dominate the Global Semiconductor and Circuit Manufacturing Market

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.

Asia-Pacific is Expected to Register the Highest CAGR During the Forecast Period

Based on geography, Asia-Pacific is projected to register the highest CAGR during the forecast period. This region's growth is attributed to the presence of multiple local and international market players, high consumption 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.

Semiconductor and Circuit Manufacturing Market: Competitive Analysis

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by major market players in the last three to four years. The key players profiled in the global semiconductor and circuit manufacturing market study 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).

Semiconductor and Circuit Manufacturing Market Report Summary: