Semiconductor and Circuit Manufacturing Market Size, Share, Growth Analysis, By Application(mobiles, tablets), By Product(lasers, solar cells) - Industry Forecast 2024-2031

Semiconductor and Circuit Manufacturing Market size was valued at USD 2.6 billion in 2021 and is poised to grow from USD 2.79 billion in 2022 to USD 5.31 billion by 2030, at a CAGR of 7.4% during the forecast period (2023-2030).

The Semiconductor and Circuit Manufacturing Market is highly fragmented with the presence of several small and large market players operating all over the world. Major companies of the market are implementing several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio. 'Dainippon Screen Group', 'Applied Materials, Inc.', 'Canon Machinery Inc.', 'Tokyo Electron Limited', 'Ferrotec Holdings Corporation', 'ASML', 'Lam Research Corporation', 'ASM International', 'KLA Corporation', 'Hitachi High-Technologies Corporation'

Rising household disposable income, rapid population growth, and increasing urbanization are driving a surge in demand for standard and advanced consumer electronics. Integrated circuit chips (ICs) are found in several electronic devices such as smartphones, washing machines, televisions, and refrigerators in order to function efficiently and properly.

The memory device segment is estimated to hold the largest share of the overall semiconductor and circuit manufacturing market. However, the optical devices segment is expected to witness rapid growth during the forecast period. This is mainly due to the increasing use of optoelectronic chips in CMOS image sensors for various applications such as embedded cameras, LED lighting solutions and vehicle security increasing technological progress. A rapid change in market for a variety of residential, commercial, and industrial applications.

The North America market is expected to experience dynamic growth due to increased investment in R&D activities. According to the Semiconductor Industry Association (SIA), U.S. industry spending on R&D is growing at a compound annual growth rate of about 6.6%. US companies' R&D spending tends to be consistently high regardless of the annual revenue cycle, reflecting the importance of R&D manufacturing investments.