The latest report by IMARC Group, titled “China Semiconductor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The China semiconductor market size reached US$ 180 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 331.7 Billion by 2028, exhibiting a growth rate (CAGR) of 11.4% during 2023-2028.
A semiconductor is essential in modern electronics, serving as the foundation for countless devices. It has electrical conductivity levels between conductors such as metals and insulators, including rubber. It has a unique property that enables its conductivity to be controlled and manipulated. The most known semiconductor is silicon due to its excellent properties, such as stability and controllability. Additionally, it allows the creation of electronic components such as transistors, diodes, and integrated circuits. These elements are the building blocks of electronic devices such as computers, smartphones, and microcontrollers. Consequently, semiconductor is gaining traction across numerous sectors.
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China Semiconductor Market Trends and Drivers:
The semiconductor market in China is primarily driven by the growing consumer electronics demand. In addition, the rising middle class and an increasing need for consumer electronics led to the escalating demand for smartphones, laptops, smart appliances, and other electronic devices, thus influencing the market growth. Moreover, emerging technologies such as artificial intelligence, fifth generation (5G), and the Internet of Things (IoT) technologies are creating new opportunities for semiconductor manufacturers and designers, thus representing another major growth-inducing factor. Besides this, the extensive investments in research and development (RD) efforts are fostering innovation in semiconductor technologies, accelerating sales demand. Along with this, government-backed research institutes, universities, and private enterprises are contributing to the development of advanced semiconductor products, thus propelling market growth. Apart from this, strategic partnerships with international firms facilitate knowledge transfer and technology exchange among companies, thus augmenting market growth. Furthermore, the implementation of government policies, including financial incentives, tax breaks, and subsidies, to encourage investment in research, development, and manufacturing of semiconductor products is creating a positive market outlook.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Industry Type:
- Design
- Manufacture
- Packaging and Testing
Breakup by End User:
- Automotive
- Industrial
- Data Centre
- Telecommunication
- Consumer Electronics
- Aerospace and Defense
- Healthcare
- Others
Breakup by Material Used:
- Silicon Carbide
- Gallium Manganese Arsenide
- Copper Indium Gallium Selenide
- Molybdenum Disulfide
- Bismuth Telluride
Breakup by Functions:
- ICs
- Discrete Devices
- Optical Devices
- Sensors
- Microwave Devices
- Hybrid ICs
Breakup by Region:
- Guangdong
- Shandong
- Henan
- Sichuan
- Jiangsu
- Others
Competitive Landscape With Key Players:
- HiSilicon (Shanghai) Technologies Co. Ltd. (Huawei Technologies Co. Ltd.)
- Infineon Technologies AG
- Micron Technology Inc
- NXP Semiconductors N.V.
- On Semiconductor
- OmniVision Technologies Inc.
- Samsung Electronics
- SK hynix Inc
- STMicroelectronics
- Tianjin zhonghuan Semiconductor Co. Ltd
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