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NEW YORK, March 10, 2021 /PRNewswire/ The global semiconductor market size is expected to grow by USD 90.80 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period.
The use of semiconductor packaging technology is one of the major factors propelling the market growth. However, the cyclical nature of the semiconductor industry might challenge growth.
Semiconductor Market by Product and Geography - Forecast and Analysis 2020-2024
More details:
Global Semiconductor Market: Product
Based on the product, the market saw maximum growth in the IC segment in 2019. The segment is driven by the rising demand for memory technology in various applications across aerospace and defense, automotive, consumer electronics, industrial, medical, and telecommunications industries. The market growth in this segment will be significant over the forecast period.
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