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Global semiconductor market is expected to exceed $1 trillion in 2030
Jan 26, 2023
The global semiconductor market will exceed $1 trillion by 2030, with a compound annual growth rate of 7%, reports the electronics press.
The communications and computing markets will account for more than 60%; automotive is considered the most promising semiconductor market with the compound annual growth rate expected to exceed 10% in the next ten years; and the sales growth of industrial chips is also higher than the industry average.
Communication applications are mainly contributed by mobile infrastructure, which will drive demand for semiconductors, including mobile APs, base station CPUs, radio frequency components, power devices, and optoelectronics. Communications chips are expected to grow to $318 billion by 2030, at a CAGR of 6%.
The adoption of electronic systems in the automotive industry is exploding today. Demand for components such as sensors, computing, and control chips will continue to surge as electric vehicles become more common. Automation, electrification, and the IoV (Internet of Vehicles) will bring huge business opportunities to the automotive chip market. Automotive chips are expected to grow to $145 billion by 2030, a CAGR of 12%.
Growth in the computing industry will flatten as demand for PCs and laptops saturates, the report said. However, emerging data centers will provide the driving force for semiconductor demand. It is expected that the computing industry chips will grow to $360 billion, with a CAGR of 6%.
To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.
For more help with looking at supply chain options, contact Astute Electronics