According to a new market report published by Lucintel, the future of the semiconductor market looks attractive with opportunities in the communication, consumer electronics, automotive, and industrial sectors. The semiconductor market is expected to reach $573 billion by 2024 with a CAGR of 4.1% from 2019 to 2024. The major drivers for this market are growth in wireless communication, increasing demand for advanced safety features in automotive, and growth in internet connected devices.
In this market, various semiconductor devices, such as integrated circuits (memory, logic, micro, and analog), discrete, optoelectronic, and sensors are used in various end use industries. Lucintel forecasts that integrated circuit will remain the largest segment due to increasing demand for memory ICs in smartphones, tablet PCs, and other personal media devices. Sensor is expected to witness the highest growth over the forecast period due to the increasing demand for advanced driver assistance system in automotive and growing consumer preference for IoT-enabled devices.
Within the semiconductor market, communication will remain the largest application due to an increasing demand for wireless communication technology. The industrial segment is expected to witness the highest growth over forecast period due to increasing demand for industrial robots and digitalization of manufacturing base.
APAC will remain the largest region and it is also expected to witness the highest growth over the forecast period due to a growing adoption of IoT (internet of things), increasing electronic content per vehicles, and growing industrial automation in countries such as China, Taiwan, and India.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of artificial intelligence based semiconductors and increasing demand for semiconductor in autonomous driving technology. Samsung Electronics, Intel, SK Hynix, Qualcomm, Broadcom, Micron, Texas Instrument, Microchip, Stmicroelectronics, and NXP Semiconductors are some of the major semiconductor manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the semiconductor market by device, technology, application, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Semiconductor Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the semiconductor market by device, technology, application, and region as follows:
By Device [Billion Units and $B shipment analysis from 2013 to 2024]:
• Integrated Circuit
o Memory
o Logic
o Micro
o Analog
• Discrete
• Optoelectronics
• Sensors
By End Use [Billion Units and $B shipment analysis from 2013 to 2024]:
• Communication
o Wired
o Wireless
• Consumer Electronics
• Automotive Electronics
• PC/Computer
• Industrial and Others
By Application [Billion Units and $B shipment analysis from 2013 to 2024]:
• Artificial Intelligence
• Others
By Region [Billion Units and $B shipment analysis for 2013 to 2024]:
• North America
– United States
– Canada
– Mexico
• Europe
– Germany
– France
– United Kingdom
• Asia Pacific
– China
– Taiwan
– South Korea
– Japan
– India
• The Rest of the World
This 200-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link…… or [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising, high-growth opportunities for the semiconductor market by product (integrated circuit, discrete semiconductor, optoelectronics, and sensor), application (communication, consumer electronics, automotive electronics, pc/computer, industrial and others), by technology (artificial intelligence and non- artificial intelligence), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?