Industrial Electronic Chip Market size forecast to reach USD 50 billion by 2023
Industrial electronic chip market size was valued over USD 33.7 billion in 2013 and it is estimated to reach USD 50 billion by 2023. The growth in the industry can be subjected to strengthening global economy along with increasing purchasing confidence among various nations.
Increasing adoption of LED’s among numerous consumers over incandescent lighting is estimated to act as catalyst in fueling industrial electronic chips market demand. The surge in the industry can also be addressed to descending price points of LED lights. It is likely to contribute over USD 8 billion by 2023. Military and aerospace sector are projected to positively impact the market demand for these chips. High growth potential is anticipated from various industry sectors such as rectifiers, power diodes and thyristors and it is projected to be valued around USD 8 billion by 2023.
Asia Pacific industrial electronic chip market is estimated to witness convincing growth due to flourishing medical electronics accompanied by proliferating factory automation in the region. Flourishing energy manufacturing industry in China is forecast to have intensifying effects on electronic chip market from 2016 to 2023.
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Europe industrial electronic chips market is also expected to exhibit high growth prospects due to the presence of leading company namely Siemens in the region. In addition, thirteen European countries were ranked among top twenty industrial electronics chip market in 2014. The countries encapsulated were France, Germany, Switzerland, Sweden, Finland and Italy among others.
Rising use of semiconductor content in automotive industry might surge the industry demand for industrial electronic chips. Advent of various systems such as night-vision to recognize pedestrians, animals and vulnerabilities on the road in low-light conditions; airbags packed in shoulder harness of seatbelts; and the ability to customize the dashboard appearance for dashboard instrument panels are likely to fuel the industrial electronic chip market growth over the forecast period.
Furthermore, better and sophisticated driver assistance systems namely adaptive cruise control, backup cameras and many other systems offered by these chips might intensely impact the market growth. Automotive sector is expected to be valued around USD 30 billion by 2016. Rising performance requirements from electronic devices is likely to create the need for smaller and more robust electronic chips. Micro controllers are estimated to witness considerable growth due to advancements in integration as well as power optimization features.
Electronic chips aids in decreasing the size as well as weight of the component or as complete system. It also facilitates in reducing power loss and consumes less power. It furnishes with higher operating speeds owing to the absence of parasitic capacitance effect. The power rating of electronic chip is limited to not more than 10 watts; hence this might pose as challenge to the industry. In addition, these chips need to be handled with care, as it may not work if wrongly held or exposed to excessive heat. Fabricating a chip with low noise might challenge the industry demand.
Major five countries leading in industrial electronics chip industry are Germany, United States, Japan, France and China. These countries accounted for more than 70% share of the overall industry. U.S is anticipated to witness high growth owing to hike in the test & measurement and housing industry. This surge in the industry is likely to upturn usage of electronics in building as well as home control sector.
Key industry participants in industrial electronic chip market share include intel, qualcomm, Samsung electronics, SK Hynix, Micron technology, Toshiba, Texas Instruments, Broadcom, STMicroelectronics, Media Tek, Renesas, SanDisk, Infibeam, Avago terchnologies, NXP, Advance micro devices (AMD), Sony, Freescale Semiconductor, nVidia, Marvell technology group, ON semiconductor, Analog Devices, Apple, HiSilicon, ROHM among others.
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