The global microcomponent semiconductor market for manufacturing industry is projected to grow at a CAGR of 3.24% during the forecast period to reach US$6.904 billion in 2024 from US$5.704 billion in 2018. The increasing focus by the manufacturers to improve the overall productivity and efficiency is significantly driving the investment in factory automation, which is turn, is boosting the growth of microcomponent market in the manufacturing industry. Simultaneously, the growing production within the industry electronics industry is further anticipated to complement the growth of the market during the forecast period.
Growing manufacturing activities in budding economies
Rising automation in the Manufacturing and Industrial sector
Cyclical nature of the semiconductor industry
The major players profiled in the microcomponent semiconductor market for manufacturing industry include Intel Corporation, Advanced MicrDevices, Inc., NXP Semiconductors, and STMicroelectronics, among others.
The microcomponent semiconductor market for manufacturing industry has been analyzed through the following segments:
Digital Signal Processors
Europe Middle East and Africa