SAN
FRANCISCO, Aug. 6, 2024 /PRNewswire/ -- The global
semiconductor & electronics industry is anticipated to grow
lucratively in the coming years, as per the forecast by Grand View
Research. Some of the prominent factors fueling the growth of the
global semiconductor & electronics industry are the
proliferation of Internet of Things (IoT) devices and sensors, the
rollout of 5G networks boosting demand for semiconductors,
increasing consumption of consumer electronics (such as
smartphones, tablets, wearable devices), rising adoption of
industrial automation and intelligent systems, and growing use of
electrical vehicles & autonomous driving technologies creating
a surge in demand for automotive semiconductors.
Following is a list of the markets that are anticipated to
propel the growth for the semiconductor & electronics
industry:
The global architectural lighting market
size was estimated at USD 8.94
billion in 2022 and is anticipated to grow at a compound
annual growth rate (CAGR) of 7.7% from 2023 to 2030. The market
growth can be attributed to the increasing prominence of
architectural lighting across independent bungalows, condos,
community houses, skyscrapers, residential buildings, malls, office
space, hotels, public offices, and industrial lofts, among others.
Furthermore, architectural lighting is highly compatible with
sensors that help manage lighting usage and save energy and
money.
The automotive LiDAR market size was valued at
USD 447.0 million in 2022 globally
and is projected to expand at a compound annual growth rate
(CAGR) of 8.1% from 2023 to 2030 owing to rising demand
for advanced driver assistance systems (ADAS) and
autonomous vehicles, increasing emphasis on safety regulations and
the need to reduce road accidents. Furthermore, the rising
adoption of safety systems in autonomous and semi-autonomous cars
at various levels of automation is expected to draw huge investment
from key participants, thus driving regional industry demand during
the forecast period.
The worldwide consumer electronics market size was
worth USD 1,068.22 billion in 2022
and is expected to grow at a compound annual growth rate (CAGR) of
6.6% from 2023 to 2030. Smartphone proliferation is expected to
fuel the global market for consumer electronics. Technological
advancements, the emergence of 4G and 5G technologies, and
innovation are expected to drive demand for the market for consumer
electronic.
The global digital signage market size was
estimated at USD 26.76 billion in 2023 and is anticipated to
register a compound annual growth rate (CAGR) of 8.1% from 2024 to
2030. This market growth is accredited to the increasing demand for
the digitized promotion of products and services to attract the
attention of the target audience in an effective manner.
Furthermore, the demand for 4K
digitized sign displays (digital signage displays) with embedded
software and media player is rising as it offers customers an
affordable Ultra HD digital signage solution, which is also
expected to drive the demand.
The fiber optics market size was valued at
USD 8.76 billion in 2022 globally and is projected to grow at
a compound annual growth rate (CAGR) of 6.9% from 2023 to 2030.
Fiber optics technology is a modern-day innovation that has evolved
owing to rigorous studies conducted by researchers and scientists
worldwide through extensive R&D. Significant adoption of fiber
optic cables under the sea contributed towards growth of market due
to increased utilization of deployed fiber, improved network
capacity, and enhancement in spectral efficiency.
The worldwide field programmable gate array (FPGA) market
size was worth USD 10.46
billion in 2022 and is anticipated to register a
compound annual growth rate (CAGR) of 10.8% from 2023 to 2030. The
growing trend for the adoption of field programmable gate array in
areas of deep packet inspection, network processing, and security
is anticipated to drive their demand over the forecast period. The
preference for FPGA architecture is on the rise due to its
capabilities, such as low power consumption and high compute
density.
The global flexible electronics market size was
valued at USD 24.94 billion in
2022 and is projected to grow at a compound annual growth rate
(CAGR) of 10.5% from 2023 to 2030. A noticeable increase in the
adoption of laptops and smartphone products by consumers
and the wide applicability of flexible electronics such as flexible
batteries and displays in the consumer electronic industry is a
major factor expected to drive the global flexible electronic
market growth.
The gallium nitride semiconductor devices market
size was estimated at USD 2.56
billion in 2023 globally and is expected to expand at a CAGR
of 26.4% from 2024 to 2030. The growth of the market can be
attributed to the ability of gallium semiconductors to provide
high-speed performance as well as contribute to lower carbon
emissions, which position them as effective devices in the field of
electronics.
Global gas sensor market size was worth USD 2.90 billion in 2023 and is anticipated to
register a compound annual growth rate (CAGR) of 9.5% from 2023 to
2030. The major factor driving the market is the development of
miniaturization and wireless capabilities, coupled with the
improvement in the communication technologies that enable their
integration into various devices and machines to detect toxic gases
at a safe distance. In addition, the rising demand to control
harmful emissions from critical industries also bodes well for the
growth of the market.
The worldwide interactive display market size was
valued at USD 41.45 billion in 2022
and is estimated to grow at a compound annual growth rate (CAGR) of
7.8% from 2023 to 2030. The market is expected to witness
significant growth in the coming years, primarily owing to
increasing demand for digital classrooms as well as growing
adoption of these displays, such as video walls and tables. These
video walls and tables are used at transit spaces/public
transportation, such as railway stations and airports.
The global interactive kiosk market size was
valued at USD 28.45 billion in 2021
and is projected to expand at a compound annual growth rate (CAGR)
of 7.1% from 2022 to 2030. Due to the high development in payment
and security technologies, the market has witnessed rapid growth
over the past few years. Many of the self-service kiosk
manufacturers will continue to extract these technologies' maximum
potential and are expected to include them as an indispensable
component of their product offering.
The laptop market size was valued at USD 194.25
billion in 2022 globally and is expected to grow at a compound
annual growth rate (CAGR) of 6.9% from 2023 to 2030. The market is
continuously expanding owing to rising disposable incomes, growing
internet connectivity, and the increasing inclination of consumers
toward advanced laptops with respect to system performance and
design.
The global LiDAR market size was valued at USD 1.81 billion in 2021 and is estimated to
expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to
2030. The technological advancements in spatial resolution of
LiDAR-based digital terrain models are providing better accuracy in
applications such as change detection on hillsides, water runoff
for agriculture or mining sites, and inland waterways. The growth
of the market is attributed to the rising automation in LiDAR to
reduce human efforts and increase efficiency.
The worldwide microwave devices market size was
valued at USD 7.49 billion in
2022 and is anticipated to grow at a compound annual growth
rate (CAGR) of 5.9% from 2023 to 2030. The growing usage of SiC and
GaN devices in the upcoming amplifier technology is expected to
drive industry growth. Microwave devices offer high efficiency and
heat tolerance. They are also able to perform well in harsh
environments.
The millimeter wave technology market size was
valued at USD 3.75 billion in
2023 globally and is anticipated to register a compound annual
growth rate (CAGR) of 39.7% from 2024 to 2030. The mmWave
technology has gained popularity owing to its potential for high
data rates, low latency, and capacity to support a massive number
of devices simultaneously. Rising demand for bandwidth-intensive
applications, use of mmWave in 5G communications, and demand for
high speed for the Internet of Things (IoT) are
contributing to the market's growth.
The global outdoor LED display market size was
valued at USD 7236.9 million in 2022
and is projected to expand at a compound annual growth rate (CAGR)
of 15.9% from 2023 to 2030. The increasing demand for digital
advertising and the rising popularity of large-scale events drive
market growth. The expansion of exhibitions and sports events,
ceremonies, seminars, and other similar events are the key factors
for the market growth for outdoor displays.
The pressure sensor market size was valued at
USD 18.73 billion in 2022 globally
and is expected to grow at a compound annual growth rate (CAGR) of
4.3% from 2023 to 2030. The market's growth can be attributed to
the rising demand for pressure sensors from various industry
verticals, such as automotive and healthcare, and in various
applications, such as consumer electronics, portable
healthcare wearables, alarm systems, medical breathing appliances,
water purifiers, refrigeration systems, and off-road constructions
among others.
The global printed electronics market size was
valued at USD 8.66 billion in 2021
and is anticipated to register a compound annual growth rate (CAGR)
of 22.3% over the forecast period as printed electronic products
are gaining rapid traction. The estimated escalation of the
technology is attributed to its ability to be incorporated in a
variety of dynamic application areas, such as the Internet of
Things (IoT) and consumer electronics. The increasing penetration
of IoT is providing several growth opportunities,
widening the scope of printed electronics applications across the
sector.
The worldwide silicon photonics market size
was worth USD 1.29 billion in 2022
and is anticipated to expand at a CAGR of 25.8% from 2023 to 2030.
Silicon photonics is an emerging technology experiencing growing
demand due to the need for higher data transfer rates and
bandwidth-intensive applications. It has found significant traction
in data centers and telecommunications, where it offers high-speed
data transmission, reduced power consumption, and integration with
existing silicon-based electronic systems.
The smart lighting market size was valued at
USD 15.05 billion in 2022 globally
and is expected to grow at a compound annual growth rate (CAGR) of
22.1% from 2023 to 2030. The ability of lights to connect with IoT
devices and create a variety of ambient lighting using just
smartphones or tablets has increased its popularity and demand
across commercial and residential spaces. A wide range of
features apart from illumination coupled with the growing adoption
of IoT devices and smart assistant platforms have created market
growth avenues for smart lighting.
The global smart ticketing market size was valued at
USD 10.14 billion in 2022 and is
projected to expand at a compound annual growth rate (CAGR) of
15.5% from 2023 to 2030. The primary factor leading to the growth
in adopting smart ticketing solutions is the increasing
incorporation of emerging technologies. In addition, the
availability of multi-modal disbursement channels through online
ticketing systems, smartphones, E-kiosks, and smart ticketing
machines is supplementing effective crowd management and making
smart ticketing systems preferable over traditional paper-based
ticketing systems.
About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research Helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
Explore Horizon Databook – The world's most
expansive market intelligence platform developed by Grand View
Research. Gain insights from 1 million+ statistics, 20,000+
markets, and 5 business solutions encompassing ESG and
Sustainability Consulting, Procurement Intelligence, Pricing Index
and analysis, and Consume Analytics.
Contact:
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Grand View Research, Inc.
Phone: 1-415-349-0058
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SOURCE Grand View Research, Inc.