Semiconductor market size worldwide 2019 & 2024, by application

By 2024, the leading application within the global semiconductor industry is expected to be smartphones, particularly the continued development of image sensors in such devices. In 2019, the smartphone semiconductor market was valued at 106 billion U.S. dollars, with projections suggesting this is likely to rise to 155 billion U.S. dollars.

Semiconductor market size

Over the last decade, revenues generated by the global semiconductor industry have steadily increased, surpassing 440 billion U.S. dollars in 2020. This represented a rebound from the decline experienced in the previous year, with growth in 2020 coming despite the impact of the coronavirus pandemic on the global economy. In the coming years, semiconductor market revenues are expected to grow further.

Semiconductor shipments

Just as semiconductor market revenues have increased over the last decade, so too have total unit shipments. In 2020, semiconductor shipments amounted to over one trillion units – a 40 percent jump from the figure recorded in 2010. New market drivers and applications continue to emerge and have helped contribute toward a rise in semiconductor shipments.