Semiconductor Device For Industrial Applications Market Size (2024 - 2029)

Semiconductor Device For Industrial Applications Market Analysis

The Semiconductor Device For Industrial Applications Market size is estimated at USD 87.59 billion in 2024, and is expected to reach USD 135.24 billion by 2029, growing at a CAGR of 9.08% during the forecast period (2024-2029).

• Semiconductor devices are increasingly adopted in industrial applications owing to the rapid growth in industrial automation. Industry 4.0 is transforming the way companies manufacture their products. Industry 4.0 refers to intelligent and connected production systems designed to sense, predict, or interact with the physical world, making real-time decisions that support production. It can increase productivity, energy efficiency, and sustainability in manufacturing.
• One of the most critical components of Industry 4.0 is the Industrial Internet of Things, which indicates the extension and use of the IoT in industrial sectors and applications. Semiconductors' underlying core capabilities for IIoT include sensing, connectivity, and computing. For instance, in IIoT, sensors are widely used in different industries to monitor equipment, assets, systems, and overall performance.
• Another critical enabler of Industry 4.0 and a common area of application of semiconductors is industrial robots, which are mechanical machines programmed to automatically perform production-related tasks in industrial environments.
• For their functioning, industrial robots require sophisticated sensors that obtain essential information. Sensors can use semiconductor processing units to gather external information like images, infrared light, sound, internal temperature, moisture, movement, and position data. Currently, many industrial robots are equipped with 3D vision systems, usually comprised of multiple cameras or one or more laser displacement sensors.

Semiconductor Device For Industrial Applications Industry Segmentation

Semiconductors have several advantages in the manufacturing industries. As a consequence of precisely configured hardware and software, factory machines do precise and repetitive labor. Also, each device uses a specific quantity of power. Therefore, a device's capabilities must be reliable regardless of whether it is autonomous or requires human control, primarily dependent on its semiconductor chips.

The semiconductor device market for processing applications is segmented by device type (discrete semiconductors, optoelectronics, sensors, integrated circuits) into which integrated circuits are further segmented into (analog, logic, memory, and micro), micro divided into (microprocessors (MPU), microcontrollers (MCU), and digital signal processors), and by geography (United States, Europe, Japan, China, Korea, and Taiwan).

The market sizes and forecasts are provided in terms of value USD for all the above segments.