Press release

Global Semiconductor Market Demand With COVID-19 Recovery Analysis 2020 | Rising Adoption of Semiconductor ICs in Automobiles to Boost Market Growth | Technavio

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The global semiconductor market size is poised to grow by USD 90.80 billion during 2020-2024, progressing at a CAGR of over 4% throughout the forecast period, according to the latest report by Technavio’ Market Research Report. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of the Market Impact of COVID-19.

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Technavio has announced its latest market research report titled Global Semiconductor Market 2020-2024 (Graphic: Business Wire).

Technavio has announced its latest market research report titled Global Semiconductor Market 2020-2024 (Graphic: Business Wire).

The integration of semiconductors is being viewed as a key component in technological advancements by automotive manufacturers. In addition, several other developments in the automotive sector including autonomous vehicles, wireless charging, EVs, and computer-based testing will drive the need for semiconductor components. Thus, the increasing integration of advanced automotive systems such as collision warning systems, smart cameras, and autonomous braking systems, will boost the demand for semiconductor ICs during the forecast period.

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Report Highlights

  • The major semiconductor market growth came from the ICs segment in 2019, and it is expected to witness the fastest growth during the next five years. This is primarily because of the growing investments in telecommunication network deployments, including 4G and 5G networks.
  • APAC was the largest semiconductor market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the growing investment in 3D NAND and FINFET technologies, the transition to large-diameter wafers, and increasing demand for high-end graphics dram.
  • The global semiconductor market is fragmented. Broadcom Inc., Infineon Technologies AG, Intel Corp., Micron Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., Samsung Electronics Co. Ltd., SK HYNIX Inc., and Texas Instruments Inc. are some of the major market participants. To help clients improve their market position, this semiconductor market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the Global semiconductor Market 2020-2024 is expected to have Negative & Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Emerging Semiconductor Packaging Technologies will be a Key Market Trend

The demand for advanced level packaging that helps to reduce node size and supports large volume production has compelled the development of various packaging technologies. In addition, the emergence of 3D ICs has also increased investments in packaging technologies. Several semiconductor packaging technologies are increasingly being developed and used by IDMs and OSATs to allow semiconductor manufacturers to improve the scale of production. Thus, the emergence of advanced packaging technologies will complement the growing quality and production scale requirements of semiconductor manufacturers during the forecast period.

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Semiconductor Market 2020-2024 : Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist semiconductor market growth during the next five years
  • Estimation of the semiconductor market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the semiconductor market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of semiconductor market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019-2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • ICs – Market size and forecast 2019-2024
  • Optoelectronics – Market size and forecast 2019-2024
  • Discrete semiconductors – Market size and forecast 2019-2024
  • Sensors – Market size and forecast 2019-2024
  • Market opportunity by Product

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2019-2024
  • North America – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Volume drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Broadcom Inc.
  • Infineon Technologies AG
  • Intel Corp.
  • Micron Technology Inc.
  • NVIDIA Corp.
  • NXP Semiconductors NV
  • Qualcomm Inc.
  • Samsung Electronics Co. Ltd.
  • SK HYNIX Inc.
  • Texas Instruments Inc.


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.