Wilmington, Delaware, United States, July 10, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global logic semiconductor market was valued at US$ 186.9 Bn in 2021 and is projected to expand at a CAGR of 10.4% during the forecast period from 2022 to 2031.
Increase in demand for smart and compact electronic devices is fueling the logic semiconductor market. Semiconductors are key components of electronic devices, which are used in a range of devices from smartphones, televisions, and watches to digital cameras, refrigerators etc.
Key role of semiconductor devices in improving technical functionalities of application devices to meet next-gen processing needs is fueling market development. This is driving logic semiconductor designers and manufacturers to focus on new techniques to improve the efficiency of logic devices, which impacts the overall productivity of semiconductor driven systems.
The need to lower the power consumption of electronic devices is leading to surge in demand for programmable logic devices, which, in turn, is contributing to the logic semiconductor market growth.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 186.9 Bn | |
| Estimated Value | US$ 491.1 Bn | |
| Growth Rate - CAGR | 10.4% | |
| Forecast Period | 2022-2031 | |
| No. of Pages | 178 Pages | |
| Market Segmentation | By Product Type, Type, Industry Vertical | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Advanced Micro Devices, Inc., Broadcom, Infineon Technologies AG, Intel Corporation, Lattice Semiconductor, Microchip Technology Inc., Microsemi Corporation, Renesas Electronics Corporation, ROHM CO., LTD, STMicroelectronics, Teledyne Defense Electronics, Texas Instruments Incorporated., Toshiba Electronic Devices & Storage Corporation, Inc. | |
Key Findings of Study
Rise in Demand for Consumer Electronics – Growth in population, rapid urbanization, and rise in disposable income have led to increased demand for consumer electronics.
Rise in demand for consumer electronics, such as TVs, refrigerators, washing machines, and smartphones, is fueling the utilization of semiconductor components such as counter ICs, Flip flop ICs, and encoder and decoder ICs.
According to data published by the India Brand Equity Foundation in 2021, the washing machines, refrigerator, and air conditioner market in India was valued at nearly US$ 8.43 Bn, US$ 3.82 Bn, and US$ 3.84 Bn, respectively. Hence, manufacturers are focusing on the development of logic semiconductors to serve the high volume demand for smart and compact electronic devices.
Surge in Adoption of Broadband Devices – Currently, demand for high bandwidth is increasing at a rapid pace to meet the speed of electronic devices, as large populations utilize broadband for long distance transfer of voice, data, and video to long at high speeds.
According to DoT, India, broadband users in India stood at 800.9 million by 2022. Therefore, high volume demand for broadband devices is fueling logic semiconductor market size.
Manufacturers are focusing on technological advancements for faster data transmission that require powerful and faster processor, and denser memory chips. Therefore, these technological advancements need advanced logic devices to attain greater processing speed to be compatible with them. This is expected to improve the performance of a number of applications and services for 5G mobile telecom service providers, cloud data center operators, and research organizations.
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Utilization of Programmable Logic Devices in Several Applications Boosting Market Value – Based on type, the programmable logic devices segment accounted for the leading market share in 2021. The trend is anticipated to continue during the forecast period. Growth of the programmable logic devices segment is ascribed to increasing usage in various applications such as telecommunications, computers, consumer electronics, and industrial control systems.
Programmable logic devices are adaptable. These can be remodeled to perform large number of functions based on the user’s needs. Programmable logic devices exhibit exceptional ability to shorten development cycles, and thus enable electronic equipment manufacturers to get their product faster to the market.
Growth Drivers
- Rise in demand for consumer electronics and surge in adoption of broadband devices are fueling the logic semiconductor market
- Increase in demand for programmable logic devices to reduce power consumption of electronic devices is augmenting market growth
Regional Landscape
Asia Pacific held 46.1% share of the global industry in 2021. This can be ascribed to the growth of automotive and consumer electronics industries in countries such as China, India, and South Korea. International Energy Agency statistics revealed that sales of electric vehicles doubled from 6.6 million in 2020 to 16.5 million units in 2021.
North America accounted for 23.4% share of the global industry in 2021. The region is anticipated to continue to account for significant market share due to rise in digitization and technological advancements.
Competitive Analysis
The global landscape is fragmented, with the presence of large number of small-sized and global players. Leading players are engaging in expansion of product line and M&As to consolidate their position.
Prominent players in the logic semiconductor market include Advanced Micro Devices, Inc., Infineon Technologies AG, Lattice Semiconductor, Microsemi Corporation, and Texas Instruments Incorporated.
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The global logic semiconductor market is segmented as follows;
Global Logic Semiconductor Market, by Product Type
- Logic gates
- Flip Flop ICs
- Multiplexers/Demultiplexers ICs
- Encoder and Decoder ICs
- Counter ICs
- Others
Global Logic Semiconductor Market, by Type
- Fixed Logic Devices
- Programmable Logic Devices
- Simple Programmable Logic Device
- Complex Programmable Logic Device
- Field Programmable Gate Array
Global Logic Semiconductor Market, by Industry Vertical
- Aerospace and Defense
- Consumer Electronics
- Automotive and Transportation
- IT and Telecommunication
- Industrial
- Others
Global Logic Semiconductor Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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