Lucintel’s latest market report analyzed that semiconductor provides attractive opportunities in the communication, consumer electronics, automotive, and industrial sectors. The semiconductor market is expected to reach $778 billion by 2026 with a CAGR of 7.7%. In this market, integrated circuit is the largest segment by device, whereas communication is largest by end use. The development of artificial intelligence based semiconductors and increasing demand for semiconductor in autonomous driving technology provides strategic growth path in this market.
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Based on device, the semiconductor market is segmented into integrated circuit, discrete semiconductor, optoelectronics, and sensor. The integrated circuit segment is expected to accounted for the largest share of the market in 2020 due increasing demand for memory ICs in smartphones, tablet PCs, and other personal media devices and sensor is to register the highest CAGR during the forecast period, due to the increasing demand for advanced driver assistance system in automotive and growing consumer preference for IoT-enabled devices.
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The semiconductor market is marked by the presence of several big and small players. Some of the prominent players offering semiconductor include Samsung Electronics, Intel, SK Hynix, Qualcomm, Broadcom, Micron, Texas Instrument, Microchip, Stmicroelectronics, and NXP Semiconductors.
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