Semiconductor & Electronic Part Market

Semiconductor & Electronic Part Market Outlook (2024 to 2034)

The global semiconductor & electronic part market is currently valued at US$ 1,396.61 billion in 2024 and is forecasted to expand at a CAGR of 8.7% to reach US$ 3,223.17 billion by 2034.

The design and assembly of electronic components have undergone a revolution due to the introduction of miniaturization, the adoption of new technologies in the Industrial Internet of Things (IIoT), and improved connectivity brought about by 5G.

Furthermore, some of the main factors driving the rising demand for semiconductor and electronic parts are the industrial sector's growing requirement for IoT and automation devices due to Industry 4.0 policies, foundries' increased capital expenditures, and the need for MEMS sensors, which are contributing to the overall expansion of the semiconductor & electronic part market growth.

Design and engineering, assembly, manufacturing, and testing services for printed circuit board (PCB) assemblies and electronic and semiconductor components are all included in manufacturing semiconductor and electronic parts.

It makes investment in automated assembly equipment easier for original equipment manufacturers. The need for manufacturing is increasing in the present market environment since nearly all electronic products, such as computers, laptops, and smartphones, utilize integrated circuits (ICs), printed circuit boards (PCBs), and other packaging.

One of the top sectors with rising demand for semiconductors and electrical components is consumer electronics. The growing use of the internet and other digital technologies along with technological advancements are making gadgets pocket-friendly.

Periodically, gadgets with improved performance and functionality are introduced to the market. These gadgets now include thousands of electronic components in a small area due to the need for such improved functionality, which is driving up demand for semiconductor and electronic parts manufacturing services.

Wearable technology and PCs have followed the same pattern. Less time spent hooked in is what the makers desire from their consumers. Several manufacturers, such as Samsung, Oppo, and Motorola come with these fast-charge adapters pre-installed, and their marketing approach revolves around rapid charging. More semiconductors and electronic components are utilized since power adapters run at significantly greater voltages and currents. This is driving the semiconductor & electronic part market size.

Report Attribute	Detail
Semiconductor & Electronic Part Market Size (2024E)	US$ 1,396.61 Billion
Forecasted Market Value (2034F)	US$ 3,223.17 Billion
Global Market Growth Rate (2024 to 2034)	8.7% CAGR
East Asia Market Value (2034F)	US$ 1,696.78 Billion
North America Market Growth Rate (2024 to 2034)	8.6% CAGR
Tubes Segment Value (2034F)	US$ 25.77 Billion
United States Market Value (2034F)	US$ 434.15 Billion
Key Companies Profiled	TDK Corporation; KYOCERA AVX Components Corporation.; Murata Manufacturing Co., Ltd. ; Panasonic Corporation; Amphenol Corporation; Littelfuse, Inc.; TE Connectivity. ; Vishay Intertechnology, Inc.; Analog Devices Inc.; SAMSUNG ELECTRO-MECHANICS

What are the Reasons Behind the Growing Sales of Semiconductors?

“Escalating Popularity of Semiconductors in Making Tiny Gadgets”

With the growing possibility to manufacture tiny gadgets for multiple uses, the miniaturization revolution is reshaping the technology sector. From wearable technology to medicinal implants, nanoscale electronics are transforming the workplace.

The market participants are focusing on creating and producing tiny electronic components, which enables the industries to incorporate them into goods with cutting-edge features while lessening their total environmental impact. Miniaturization also increases possible features and usefulness without growing the product's size while maintaining room inside the enclosure.

• Toshiba Electronic Devices & Storage Corporation introduced a 100V N-channel power MOSFET using Toshiba's next-generation U-MOS X-H technology in June 2023. The product's primary applications are hot-swapping circuits and switching circuits on industrial equipment used in data centers and communications base stations.

By linking commonplace objects, such as smart homes and factories, and enhancing real-time data collecting, the expanding use of the Internet of Things (IoT) is rapidly changing several industrial sectors. Low-power microcontrollers and secure communication protocols are two innovations that are creating new and expanding opportunities in the electronics manufacturing industry.

As the Internet of Things continues to expand, there are more prospects for these components because of the increased need for sensors, wireless communication modules, microcontrollers, and other components to facilitate connectivity, device control, and data gathering. Several businesses are creating specialized parts to satisfy the demands of Internet of Things applications.

• Powercast, a wireless power specialist, and Nichicon, a manufacturer of electronic components, partnered in June 2023 to enable radio frequency charging of Nichicon's new Small Lithium Titanate Oxide Rechargeable Batteries in small devices, including medical devices, IoT sensors, and wireless thermometers.

Which Restrictions are Restraining Manufacturers in Making Big Bucks?

“Difficulty in Managing Quality Becoming a Major Challenging Factor”

Because market needs and price variations affect the total cost of components, it is constantly difficult to balance quality and cost-effectiveness in electronic components. Furthermore, these components become obsolete because of changes in market demand, manufacturer withdrawals, or technological improvements.

The outdated electronic components involve manual or reactive procedures that result in lengthy lead times, human error, and exorbitant expenses for the company. Moreover, several electronic components wear down owing to mechanical stress, excessive current, and high temperatures. By limiting the expansion of the electronic components industry, the ongoing danger of such system failures restricts the usage of these components.

Country-wise Insights

The whole world is moving toward technological advancement and this is making the sales of semiconductors jump even more rapidly. Some of the major countries contributing to this semiconductors & electronic part market share are the United States, China, Canada, India, and South Korea.

Why is the United States Making the Most Sales in the North American Region?

“Established IT Sector Benefiting in the Production of Semiconductors”

Attribute	United States
Market Value (2024E)	US$ 191.78 Billion
Growth Rate (2024 to 2034)	8.5% CAGR
Projected Value (2034F)	US$ 434.15 Billion

The United States boasts a highly established IT sector that is pivotal in semiconductor production. With a diverse array of tech companies and research institutions, the country has cultivated an ecosystem that fosters innovation and collaboration.

This environment allows for rapid technological advancements and efficient manufacturing processes, ensuring high-quality semiconductor products. Furthermore, considerable investments in research and development have enhanced the capabilities and competitiveness of more manufacturers in the United States.

How is China Performing in Semiconductor Manufacturing?

“Exporting Semiconductors to Different Countries Making Country Market Profitable for Manufacturers”

Attribute	China
Market Value (2024E)	US$ 306.78 Billion
Growth Rate (2024 to 2034)	9.5% CAGR
Projected Value (2034F)	US$ 761.89 Billion

China's rapid escalation in semiconductor manufacturing is attributed to aggressive government policies and substantial investments in the sector. The government recognizes semiconductors as a strategic industry vital for national security and economic development, leading to significant funding and support for local manufacturers.

This has further contributed to the establishment of several semiconductor facilities and research centers, enhancing the country’s production capacity. Moreover, China's large market provides a substantial customer base for semiconductors, allowing manufacturers to benefit from economies of scale.

Category-Wise Evaluation

Several products and services are introduced in semiconductors to make the electronic parts more efficient and effective. Some of the major profitable segments include printed circuit boards, tubes, and capacitors, which are positively affecting semiconductor & electronic part market trends.

Which Products and Services are Making Prominent Profits in the End Market?

“Semiconductors and Related Devices Becoming More Useful Compared to Printed Circuit Boards”

Attribute	Semiconductors & Related Devices
Segment Value (2024E)	US$ 765.62 Billion
Growth Rate (2024 to 2034)	9.1% CAGR
Projected Value (2034F)	US$ 1,844.53 Billion

Semiconductors and related devices have emerged as highly profitable products within the end market. This trend stems from the increasing demand for advanced electronic components used in several applications, including smartphones, laptops, and IoT devices.

Compared to traditional printed circuit boards, semiconductors offer superior efficiency and functionality, enabling manufacturers to create smaller, more powerful devices. The rapid technological advancements and the proliferation of smart technologies are driving this shift.

Which Major Market is Significantly Becoming Popular in Today's World?

“Widespread Use of Semiconductors by Computer & Peripheral Manufacturers”

Attribute	Computers & Computer Peripheral Manufacturers
Segment Value (2024E)	US$ 499.53 Billion
Growth Rate (2024 to 2034)	10.4% CAGR
Projected Value (2034F)	US$ 1,349.64 Billion

The semiconductor market is experiencing significant growth and popularity, becoming a cornerstone of modern technology. As global demand for electronics surges, the reliance on semiconductors, particularly among computer peripheral manufacturers, has intensified.

These components are critical in ensuring the functionality and performance of devices, such as keyboards, mice, and printers. The ongoing digital transformation, accelerated by remote work and increased online activity, has placed semiconductors at the forefront.

Competitive Landscape

Key players in the semiconductor & electronic part industry are focusing on adding new products now and then and investing heavily in research and development.

• To increase the selection of products available to electronics designers and buyers and provide them with a comprehensive portfolio to satisfy their particular application requirements, TTI, Inc., a distributor in the electronic components industry, teamed up with Rosenberger, a manufacturer of high-voltage, high-frequency, and fiber-optic interconnect solutions, in January 2024.
• The SM10 Varistor, a Metal Oxide Varistor intended to offer exceptional short-term surge protection in electronics, automobile electric cars, and other applications, was unveiled by Littelfuse, Inc. in January 2024.

Fact.MR provides detailed information about the price points of key suppliers of the semiconductor & electronic part market positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Semiconductor & Electronic Part Market Research

• By Product & Service :

  • Semiconductor & Related Devices
  • Capacitors, Resistors, Coils, Transformers, and Other Inductors
  • Printed Circuit Boards
  • Electronic Connectors
  • Tubes
  • Other Electronic Components

• By Major Market :

  • Computers & Computer Peripheral Manufacturers
  • Communications & Network Equipment Manufacturers
  • Consumer Electronics Manufacturers
  • Automotive Manufacturers
  • All Other Customers

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa