Global Microelectronics Market Size to worth USD 1149.5 Billion by 2033: Forecast Analysis Report

Global Microelectronics Market Size to worth USD 1149.5 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Microelectronics Market Size is Expected to Grow from USD 508.5 Billion in 2023 to USD 1149.5 Billion by 2033, at a CAGR of 8.50% during the forecast period 2023-2033.  

Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Microelectronics Market Size, Share, and COVID-19 Impact Analysis, By Product (Lighting Control, Security & Access Control, Entertainment Control, HVAC Control, and Other Control), By End-Use (Aerospace & Defense, Medical, Construction, Automotive, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.  

Microelectronics refers to the miniaturization of electronic circuits and components with over 100 nm in size. It involves the application of electronic science to components and circuits of very small, microscopic, and even molecular levels to create small but incredibly functional electronic devices and equipment. Consumer electronics, medical gadgets, automotive systems, and military systems are just a few of the many uses for these devices. The integration of technologies like artificial intelligence and the Internet of Things (IoT) as well as technologies like wireless charging, hybrid cloud storage, and next-generation sequencing are offering lucrative market growth opportunities. The capability of microelectronics to manufacture faster, smaller, and more energy-efficient devices than traditional electronic devices is contributing to driving the microelectronics market. Numerous technologies and equipment, that are necessary for the luxurious lifestyle of people including televisions, laptops, and smartphones use microelectronic components are driving the market demand. On the contrary, the concerns regarding data security and technological complexities in microelectronics can hamper the market growth.

The HVAC control segment is anticipated to hold the largest market share through the forecast period.

Based on the product, the microelectronics market is classified into lighting control, security & access control, entertainment control, HVAC control, and other controls. Among these, the HVAC control segment is anticipated to hold the largest market share through the forecast period. Microelectronics have improved the HVAC system control system in several ways as microprocessors can control the performance capacity of a unit, monitor the safety and operation of the HVAC system, and relay data on the operating status of the unit. The growing adoption of HVAC control technologies in building automation is driving market growth

The automotive segment is anticipated to dominate the market during the forecast period.

Based on the end-use, the global microelectronics market is divided into aerospace & defense, medical, construction, automotive, and others. Among these, the automotive segment is anticipated to dominate the market during the forecast period. For optimum performance, advanced driver-assistance systems (ADAS), infotainment systems, and electric car technologies depend on complex microelectronics. The increasing incorporation of new types of sensors like improved lidars and smart cameras for ensuring maximum efficiency is likely to drive market growth in the automotive segment.

North America is projected to hold the largest share of the global microelectronics market over the forecast period.

North America is projected to hold the largest share of the global microelectronics market over the forecast period. The expanding automotive industry and R&D activities in countries like the United States are driving market growth. The introduction of innovative technologies and demand for advanced devices are significantly contributing to market growth. Technological advancements in electronic components and products including smaller and more powerful microchips are contributing to propel the market.

Europe is predicted to grow at the fastest CAGR in the microelectronics market over the forecast period. The presence of a high number of market players in the region delivering products in a wide range with low cost is augmenting the market in the region. Further, the surging adoption of consumer electronic goods like laptops & smartphones and IoT & AI technologies are significantly contributing to driving the market.

Company Profiling

Major key players in the microelectronics market include Acuity Brands, Inc., ADT Corporation, Control4 Corporation, Crestron Electronics Inc., Cisco Systems Inc., Honeywell International Inc., United Technologies Corporation, Johnson Controls Inc., Ingersoll Rand PLC, Schneider Electric SE, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In November 2024, Indiana University was awarded $4 million from the second round of Indiana’s Regional Economic Acceleration and Development Initiative to advance its microelectronics research and development capabilities.

• In September 2024, Nokia is to invest €360 million (US$391 million) in the development of energy-efficient software, hardware and high-performance microelectronics for use in future mobile communications systems based on the 5G-Advanced and 6G standards.

• In March 2024, The US government launched a strategy for microelectronics, building on the recent developments of the CHIPS and Science Act to boost domestic production of semiconductors. The strategy developed by the Subcommittee on Microelectronics Leadership of the National Science and Technology Council aims to use the investments in the CHIPS & Science Act to revitalize microelectronics R&D activities and infrastructure over the next five years.

• In January 2024, Intel Corp. and United Microelectronics Corporation, a leading global semiconductor foundry, announced that they would collaborate on the development of a 12-nanometer semiconductor process platform to address high-growth markets such as mobile, communication infrastructure, and networking.

• In April 2023, Nexperia B.V. of Nijmegen, the Netherlands (a subsidiary of Wingtech Technology Co Ltd) introduced a 650V silicon carbide (SiC) Schottky diode designed for power applications that require ultra-high performance, low loss, and high efficiency.

• In February 2023, Semtech Corporation, a high-performance semiconductor, IoT systems and Cloud connectivity service provider, announced its collaboration with Shanghai Fudan Microelectronics Group Co., Ltd., to launch the MCU+SX126x reference design to provide more cost-effective solutions for clients in the fields of instrumentation, fire prevention and security, environmental monitoring, and other applications.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global microelectronics market based on the below-mentioned segments:

Global Microelectronics Market, By Product  

• Lighting Control
• Security & Access Control
• Entertainment Control
• HVAC Control
• Other Control

Global Microelectronics Market, By End-Use

• Aerospace & Defense
• Medical
• Construction
• Automotive
• Others

Global Microelectronics Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa