Industrial Semiconductors Market: Competitor Analysis, Trends, and Size Assessment for 2024-2033

Global industrial semiconductors market size is expected to reach $124.73 Bn by 2028 at a rate of 13.1%, segmented as by type, single-mode, multi-mode

Aug 21, 2024 - 13:20

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Industrial Semiconductors Market: Competitor Analysis, Trends, and Size Assessment for 2024-2033

The industrial semiconductors from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Industrial Semiconductors Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -

The industrial semiconductors market size has grown rapidly in recent years. It will grow from $67.58 billion in 2023 to $76.3 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to the invention of the integrated circuit, the advent of consumer products, the rise of personal computers, the introduction of electronics in cars, early adoption of automation technologies.

The industrial semiconductors market size is expected to see rapid growth in the next few years. It will grow to $124.73 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to advances in manufacturing processes, increased demand for semiconductors, rising demand for power electronics in solar and wind energy systems, expansion of 5G networks, efficiency and stability of the supply chain. Major trends in the forecast period include increasing demand for automation, the rise of the Internet of things in industrial applications, artificial intelligence and machine learning, advanced robotics, digital twin technology, and quantum computing.

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Scope Of Industrial Semiconductors Market

The Business Research Company's reports encompass a wide range of information, including:

Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
Drivers: Examination of the key factors propelling market growth.
Trends: Identification of emerging trends and patterns shaping the market landscape.
Key Segments: Breakdown of the market into its primary segments and their respective performance.
Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers -

The growing demand for automation is expected to propel the growth of the industrial semiconductors market going forward. Automation refers to using control systems and technology to operate machinery and processes with minimal human intervention. The growing demand for automation rises with a need for efficiency, productivity, and precision in various industries through integrating advanced technologies and automated systems. Industrial automation uses semiconductors to control processes, power motors, and sensing environments, enabling communication within computerized systems. For instance, in September 2023, according to the International Federation of Robotics (IFR), a Germany-based professional non-profit organization, the total number of service robots supplied for professional usage will reach 158,000 units in 2022, representing a 48% increase. There were 553,052 industrial robot installations registered by companies worldwide, implying a 5% yearly growth rate until 2022. Therefore, the growing demand for automation is driving the growth of the industrial semiconductors market.

Market Trends -

Major companies operating in the industrial semiconductors market are focusing on developing innovative products, such as built-in Delta-Sigma modulators, to enhance precision and efficiency in data conversion and signal processing. The built-in delta-sigma modulator improves the accuracy and efficiency of data conversion procedures. For instance, in June 2024, Asahi Kasei Microdevices Corporation, a Japan-based design and manufacturing company, launched the CQ36 Series Integrated Circuit, offering advanced capabilities in a more compact package. It is designed to provide high-precision analog-to-digital conversion, improving the performance of various applications in industrial and consumer electronics. The CQ36 series has better signal-to-noise ratios and lower power consumption, making it an excellent choice for battery-powered applications. Furthermore, the compact design and powerful functionality enable smooth integration into complicated electronic systems.

The industrial semiconductors market covered in this report is segmented –

1) By Type: Single-Mode, Multi-Mode

2) By Product: Integrated Circuits, Optoelectronics, Discrete Semiconductors, Sensors

3) By Application: Construction, Manufacturing, Automotive, Aerospace, Other Applications

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Regional Insights -

Asia-Pacific was the largest region in the industrial semiconductors market in 2023. The regions covered in the industrial semiconductors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies -

Major companies operating in the industrial semiconductors market are Hitachi Ltd, Panasonic Corporation, Mitsubishi Electric Corporation, Honeywell International Inc, Broadcom Inc, Advanced Micro Devices Inc., STMicroelectronics NV, Infineon Technologies AG, NXP Semiconductors N,V,, Analog Devices Inc., Renesas Electronics Corporation, Fuji Electric Co. Ltd., Microchip Technology Inc., Omron Corporation, Teledyne Technologies Incorporated, ROHM Semiconductor Ltd., Vishay Intertechnology Inc., Diodes Incorporated, Microsemi Corporation, Fairchild Semiconductor International Inc.

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