The United States Semiconductor Market is Forecast to Register an Impressive CAGR in the Forecast Period
Increasing demand for
integrated chips, rising use of IoT and Al devices and the development of EV
sector are expected to drive the United States semiconductor market in the
forecast period, 2024-2028.
According
to TechSci Research report, “United
States Semiconductor Market – By
Region, Competition Forecast & Opportunities, 2018-2028,” the United States Semiconductor
Market is forecast to register an impressive CAGR in the forecast period due to
the trends in semiconductor market which are continually evolving as technology
advances and increasing consumer demand for electronic goods. Additionally
increasing foreign investments, high emphasis on the production of chips,
supporting policies, increasing demand for smart appliances, and growing EV fleet
are contributing to market growth. The growth of this market is attributed to
the increasing consumption of consumer electronic devices across the country.
Additionally, the emergence of Artificial Intelligence (AI), Internet of Things
(IoT) and machine learning technologies provide new opportunities for market
increment. These technologies aid memory chips in processing large amount of
data in less time. Moreover, the increasing demand for fast and advance chips
in different sectors will drive the market in the future.
With
about 12% of the global production, the US is the fifth largest manufacturer of
semiconductors, behind Taiwan, South Korea, Japan, and China. In 2022, American
businesses operating in semiconductor production invested USD50 billion to
increase production, as part of a government program. And expanding US output
could prove essential for more than just a competitive advantage. The most
visible response is the CHIPS and Science Act, which allocates USD39 billion in
government funding for domestic semiconductor manufacturing facilities and
billions more for semiconductor research and development (R&D) and
workforce programs. The government policy not solely focus on increasing
America’s manufacturing capacity, but rather holistically strengthen the entire
semiconductor industry, enabling it to withstand supply shocks, drive
technology transitions, and win future industry control points.
Moreover,
numerous investments have been made by foreign and local governments in order
to push the semiconductor industry in the United States. For instance, IBM
plans to invest USD 20 billion in New York's Hudson Valley region, once a
manufacturing powerhouse, over the next decade to make and develop
semiconductors, mainframe technology, artificial intelligence and quantum
computing. Another is TSMC, which has
announced its plans to triple investment in the United States to better serve.
This investment is expected to contribute towards building a second
chip-fabrication facility in Arizona. This is an addition to the pre-existing
chip fab, built with an investment of USD 12 billion to meet demand for power
electronics in automobile, cell phone chips for 5G, and industry chips and
sensors.
Additionally,
one of the United States largest semiconductor companies, Micron, intends to
invest up to USD100 billion over the next 20-plus years to construct a new Megafab
in Central New York, with the first
phase investment of USD 20 billion planned by the end of this decade. This
represents the largest private investment in New York to support semiconductor
market. Hence, all these factors proliferate the growth of the United States
semiconductor market for the upcoming years.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on "United States Semiconductor Market.”
United States Semiconductor Market is segmented on
the basis of component, node size, application, type, material type, region and
competitive landscape. On the basis of type, extrinsic semiconductor segment is
expected to dominate the United States semiconductor market as these have many
advantages over intrinsic semiconductors, Extrinsic semiconductors have a much
higher electrical conductivity and low electrical conductivity at normal
temperature. In addition, the usage of extrinsic semiconductors in transistors,
bipolar transistors, and field-effect transistors has increased demand for
extrinsic semiconductors nationwide.
On the basis of application, consumer electronics segment
is expected to dominate the United States semiconductor market because large
companies are making huge investments in introducing new devices to cater to
the increasing consumer demand for advanced devices, supporting the market
growth. Moreover, growing production of computers and associated devices, the
two forms of semiconductor memory, random access memory (RAM) and read-only
memory (ROM), are in great demand. Logic devices, on the other hand, account
for a significant portion of the market.
Based on the material type, silicon is projected to
maintain its dominance in the United States semiconductor market. It is widely
used in semiconductors due to its commonality and high resistance properties,
making it suitable for electrical applications. Moreover, its low extraction
cost, ease of processing, and high purity makes it a superior material compared
to others.
Major market players operating in the United States
Semiconductor Market are:
- Intel
Corporation
- Texas
Instruments Incorporated
- Microchip
Technology
- Analog
Devices
- Micron
Technology
- Xilinx
Inc.
- AMD
Advanced Micro Devices
- ON
Semiconductor
- Qualcomm
- NVIDIA
Corporation
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“The US semiconductor market
is experiencing significant growth and demand for semiconductor components. The
increasing adoption of developing technologies like 5G, artificial
intelligence, and the Internet of Things (IoT) is driving the need for more
advanced and efficient semiconductor components. Additionally, the COVID-19
pandemic has enhanced digital transformation, leading to higher demand for electronic
devices and semiconductors across many industries. However, there have been
challenges such as supply chain disruptions and geopolitical tensions are
affecting the industry. To maintain competitiveness, companies have focused on
innovation, R&D investments, and strategic partnerships to address market
trends and cater to evolving consumer demands," said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based Indian management
consulting firm.
“United States Semiconductor Market By
Component (Memory Devices, Logic Devices, Analog IC, MPU, MCU, Sensors,
Discrete Power Devices, Others), By Node Size (28nm, 40nm, 65nm, 90nm, 120nm,
130nm), By Application (IT & Telecommunication, Defense and Military, Industrial,
Consumer Electronics, Automotive, Others), By Type (Intrinsic Semiconductor and
Extrinsic Semiconductor), By Material Type (Silicon, Germanium and Gallium
Arsenide), By Region, Competition Forecast & Opportunities, 2018-2028,”
has evaluated the future growth potential of the United States semiconductor
market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the United States semiconductor
Market.
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