Microelectronics Market (By Type: Transistors, Capacitors, Inductors, Resistors, Insulators; By Software & Algorithm: Behavioral, Proactive; By Product: Lighting Control, Security and Access Control, Entertainment Control, HVAC Control, Other; y Vertical: Aerospace and Defense, Medical, Construction, Automotive, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030


The global microelectronics market size was valued at USD 318.15 billion in 2021 and it is expected to surpass around USD 455.67 billion by 2030 with a registered CAGR of 4.1% from 2022 to 2030.

Microelectronics Market Size | Statistics 2021 to 2030

Growth Factors

Electronics has a subsection called microelectronics. Microelectronics is the production of a very small electronic devices and gadgets. This usually refers to micrometer scale. Semiconductor materials are commonly used in microelectronic devices. Many elements of traditional electronic design have microelectronic counterparts. Due to the very small size of the devices, innovative wiring techniques such as wire interconnects are frequently utilized in microelectronics. This method necessitates specialist equipment and is costly in nature.

The size of microelectronic devices and gadgets has shrunk as technologies have developed. At lesser scales, inherent network features like linkages may have a greater impact. The purpose of the microelectronics design engineer is to find solutions to correct for or limit negative impacts while providing thinner, quicker, and less expensive devices. Electronic design automation software now plays a significant role in microelectronics design.

Microelectronics have wide range of applications in diverse sectors. Microelectronics parts and components are used in various gadgets and devices such as smartphones, laptops, and televisions. All these devices and gadgets are essential for the luxurious lifestyle of people. Hence, this factor is driving the growth of global microelectronics market.

Report Scope of the Microelectronics Market

Report Coverage Details
Market Size by 2030 USD 455.67 Billion
Growth Rate from 2022 to 2030

CAGR of 4.1%

Largest Market North America
Fastest Growing Market Europe
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Type, Software & Algorithm, Product, Vertical, Geography
Companies Mentioned Acuity Brands Inc., ADT Corporation, Control4 Corporation, Crestron Electronics Inc., Cisco Systems Inc., Honeywell International Inc., United Technologies Corporation, Johnson Controls Inc., Ingersoll Rand PLC, Schneider Electric SE

 

In addition, the wide range of microelectronics parts and components such as capacitors, transistors, inductors, and resistors are used across various industries and sectors such as transportation, medical, construction, and industrial sectors. This factor is driving the demand for microelectronics in the global market. On the other hand, microelectronics is prone to extreme humidity and heat, which is restricting the growth of global microelectronics market during the projected period.

The COVID-19 pandemic brought drastic changes in every vertical of different sectors and industries. Similarly, COVID-19 pandemic also negatively affected the global microelectronics market. The global microelectronics market was affected due to supply chain disruptions, halt of manufacturing units, non availability of raw materials, and trade restrictions.

The technological advancements in semiconductor sector in terms of various devices and gadgets are also driving the growth of global microelectronics market. Initially, semiconductor devices use to come in bigger size. But as technological developments are taking place, the size of semiconductor devices and gadgets is decreasing. This factor is supporting the growth and development of global microelectronics market as microelectronics devices are semiconductor materials.

Microelectronics are lightweight and low cost in nature. That’s the reason microelectronics are in demand on a large scale. The technologies such as artificial intelligence and internet of things are providing lucrative opportunities for the growth of global microelectronics market over the forecast period. In addition, other technologies such as next generation sequencing, hybrid cloud storage, and wireless charging are creating growth prospects for microelectronics in the global market.

In addition, the growth and expansion of electronics industry is also paving way for the growth of global microelectronics market. The government of developed and developing economies is taking constant efforts for the expansion of semiconductor industry. This is directly impacting the growth of global microelectronics market. Moreover, government of such regions is providing tax benefits such as subsidies and tax incentives to the manufacturers of microelectronics. This factor is boosting the growth of global microelectronics market over the forecast period.

Furthermore, government of emerging and established nations is heavily investing in new and advanced technologies such as industry 4.0, blockchain, and artificial intelligence. This factor is offering new opportunities for expansion of microelectronics in the global market. The government are also collaborating with market players for the development and launch of new microelectronic devices and gadgets. In addition, major market players are adopting unique strategies such as joint venture, partnership, collaboration, merger, acquisition, and business expansion for enhancing their market position in the market. All of these aforementioned factors are propelling the growth and development of global microelectronics market during the forecast period.

Type Insights

The transistors segment dominated the microelectronics market in 2021. The growing need for internet of things is driving the growth of the segment. The internet of things devices is being widely used by end user sectors such as automotive, industrial, consumer electronics, and communication to simplify their operations. Home appliances, smart gadgets, gateways, smart homes, and sensors with basic network protocols are among the internet of things applications gaining traction. As a result, this factor is driving the growth of segment during the forecast period.

The industrial segment is fastest growing segment of the microelectronics market in 2021. The growing rise of smart home and smart city initiatives around the world will open up new potential for the insulator market. The insulator segment will benefit from increased demand for insulation materials from commercial sector, public sector, and transportation industry. Furthermore, throughout the forecast period, the insulator segment will benefit from increased emphasis on technology upgradation as well as increasing and enhancing wireless communication technology for expansion of the segment.

Region Insights

North America dominated the microelectronics market in 2021. The U.S. dominated the microelectronics market in North America region. The market for microelectronics in North America is growing due to rise in investments in research and development activities. The U.S. companies are heavily investing in research and development activities. The growth of microelectronics market in North America region is attributed to the expansion of automotive industry. In addition, adoption of new and innovative technologies is also driving the demand for microelectronics in global market. The surge in demand for advanced devices is also supporting the growth of global microelectronics market over the forecast period.

Microelectronics Market Share, By Region, 2021 (%)

Europe, on the other hand, is expected to develop at the fastest rate during the forecast period. The UK dominates the microelectronics market in Europe region. The Europe region has huge number of market players. These major market players are known for delivering a wide choice of products at low wholesale prices. In addition, the people of Europe region are adopting laptops and smartphones on large scale. Furthermore, rising disposable income is also driving the growth of the global microelectronics market over the projected period.

Key Developments

  • Samsung stated in November 2019 that its 12GB LPDDR4X uMCP and 24GB LPDDR4X uMCP chips would be available in smartphones with high quality memory and data transfer rates of up to 4,266 Mbps. 
  • Honeywell released the CIPer Model 30 controller for HVAC in October 2019. It is a compact, multi purpose 1Gbps internet protocol controller for a variety of HVAC applications. 
  • Toshiba Electronic Devices and Storage Corporation introduced TC78H670FTG, its newest micro stepping integrated circuit, in February 2020. Within the power range of 2.5V to 16V, this new IC is expected to drive a 128 micro stepping motor.

Some of the prominent players in the global microelectronics market include:

  • Acuity Brands Inc.
  • ADT Corporation
  • Control4 Corporation
  • Crestron Electronics Inc.
  • Cisco Systems Inc.
  • Honeywell International Inc.
  • United Technologies Corporation
  • Johnson Controls Inc.
  • Ingersoll Rand PLC
  • Schneider Electric SE

Segments Covered in the Report

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

By Type

  • Transistors
  • Capacitors
  • Inductors
  • Resistors
  • Insulators

By Software & Algorithm

  • Behavioral
  • Proactive

By Product

  • Lighting Control
  • Security and Access Control
  • Entertainment Control
  • HVAC Control
  • Other

By Vertical

  • Aerospace and Defense
  • Medical
  • Construction
  • Automotive
  • Others

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

What is the current size of microelectronics market?
According to Precedence Research, the global microelectronics market size was reached at USD 318.15 billion in 2021 and is anticipated to rake around USD 455.67 billion by 2030.
The global microelectronics market is expected to grow at a CAGR of 4.1% from 2022 to 2030.
The major players operating in the microelectronics market are Acuity Brands Inc., ADT Corporation, Control4 Corporation, Crestron Electronics Inc., Cisco Systems Inc., Honeywell International Inc., United Technologies Corporation, Johnson Controls Inc., Ingersoll Rand PLC, and Schneider Electric SE.
Microelectronic elements and components are found in a wide range of gadgets and equipment, including cellphones, laptop computers, and televisions. All of these equipment and gadgets are necessary for people to live a lavish lifestyle. As a result, this aspect is propelling the worldwide microelectronics market forward.
North America dominated the microelectronics market in 2021 and will lead during the forecast period.

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