PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532838
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532838
Mobile Semiconductor Market size was valued at USD 13,897.24 Million in 2023, expanding at a CAGR of 9.8% from 2024 to 2032.
Mobile phone semiconductors are included in the semiconductor mobile market. The number of semiconductors used in smartphones is rising as a result of their increased use and uptake. A variety of components, including processors (CPUs), memory chips, graphics processing units (GPUs), modems, sensors, power management integrated circuits (PMICs), and other specialized integrated circuits, are included in these semiconductors. Their energy economy, performance, and compact size are optimized to fulfil the special needs of mobile devices, which need low power consumption and excellent performance for longer battery life and portable form factors.
Mobile Semiconductor Market- Market Dynamics
Growing Demand for Electric Vehicles to Propel Market Growth
One of the main factors propelling the growth of the mobile semiconductor industry is the rising demand for smartphones. Global smartphone adoption rates are still rising as these devices become more and more ingrained in daily life. The availability of more reasonably priced smartphones is driving this trend, particularly in developing nations where economic growth is encouraging consumers to spend more on technology. Moreover, people are compelled to upgrade their smartphones more regularly due to the ongoing innovation in features such as better cameras, faster processors, longer battery lives, and improved user interfaces. Consumer interest is further piqued by the release of new models featuring cutting-edge features like folding screens and sophisticated biometric security. Furthermore, the need for increasingly sophisticated and functional gadgets is fueled by the growth of digital ecosystems and the growing dependence on mobile apps for a range of services, such as banking, healthcare, and entertainment.
Mobile Semiconductor Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 9.8% over the forecast period (2024-2032)
Based on type segmentation, the intrinsic category was predicted to show maximum market share in the year 2023
Based on application segmentation, the smartphones category was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Mobile Semiconductor Market is segmented based on Type, Application, and Region.
The market is divided into two categories based on type: Intrinsic and Extrinsic. The intrinsic category dominates the market. The need for high-performance and energy-efficient semiconductors has grown dramatically due to the quick development of mobile technology, particularly the switch to 5G. Intrinsic semiconductors that provide improved networking features, faster processing speeds, and better power management are necessary for this technological change. The demand for complex semiconductor components has also increased due to the spread of Internet of Things (IoT) devices and the rising uptake of smart devices. Intrinsic semiconductors are the foundation for these devices' dependable operation and smooth integration into a range of applications.
The market is divided into three categories based on application: Smart Phones, Tablets, and Others. The smart phones category dominates the market and is likely to maintain its dominance during the forecast period. Faster technical progress has resulted in the creation of more potent and effective semiconductors, which in turn provide better smartphone features, including increased memory capacity, processing speed, and sophisticated camera capabilities. Other significant factors are the growing need for 5G networks and high-speed internet, both of which depend on sophisticated semiconductors to enable quicker and more dependable communication. More complex semiconductor solutions are also required due to the growing demand for mobile services and apps like social media, streaming, and mobile gaming.
Mobile Semiconductor Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Throughout the forecast period, North America is anticipated to hold the greatest share of the global market for mobile semiconductors. The main factor driving 5G's quick acceptance is the technology's need for sophisticated semiconductor components to enable higher connection and faster data rates. More potent and efficient semiconductors are also required due to the growing demand for smartphones, tablets, and other mobile devices. Due to their heavy reliance on complex semiconductor solutions, the market is also driven by the growth of IoT devices and smart home technologies. Additionally, cutting-edge semiconductor technology is needed for machine learning and artificial intelligence applications that are being incorporated into mobile devices to improve user experiences.
In addition, the mobile semiconductor market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific. The region dominates the manufacturing of smartphones and semiconductors. While the remaining corporations are present in the Asia-Pacific area, the majority of the significant players in both markets have their headquarters there. Furthermore, the region controls the world market for semiconductors. Additionally, driving up demand for mobile semiconductors in the region is the growing manufacturing of smartphones and semiconductors, particularly in emerging economies. A growing number of smartphone manufacturers are establishing production facilities in the region, including in countries like Singapore, Vietnam, Thailand, India, and others.
A few significant manufacturers dominate the semiconductor mobile market which is extremely fragmented. Numerous large-scale acquisitions and partnerships with an emphasis on innovation have occurred or are anticipated to occur in the near future. Qualcomm, STMicro, MediaTek, and RFMD, among others, are a couple of the major companies in the industry. To grow their market share and boost profitability, these businesses are making use of strategic joint projects.
October 2022: Polymatech is producing its memory modules and opto-semiconductors, a semiconductor chip company driven by Japanese technology. The company's significant commercial expansion and USD 1 billion in semiconductor chip production investments coincide with the introduction of Opto-semiconductors and memory modules.
August 2022: Micron Technology Inc. declared that it would increase its semiconductor production capacity in the United States by USD 40 billion by 2030. It is anticipated that the new manufacturing facility will assist the business in expanding its production capacity in the marketplace.
GLOBAL MOBILE SEMICONDUCTOR MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Qualcomm
STMicro
MediaTek
RFMD
Intel
Skyworks
Broadcom
Samsung
TI
Renasas
Others