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Microelectronics Market (Software & Algorithm - Behavioral, and Proactive; Product - Lighting Control, Security & Access Control, HVAC Control, Entertainment Control & Others, and Other Control): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : December, 2020

  • Rep Id : ICT1337

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on microelectronics market provides an in-depth analysis of segments and sub-segments in the global as well as regional microelectronics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional microelectronics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global microelectronics market. According to the report, the global microelectronics market is projected to grow at a CAGR of 12.0% over the forecast period of 2020-2026.


Microelectronics Market

 

Market Insight

Advancements in semiconductor technology have revolutionized the devices used in various industries for different applications. As new technologies and fabrication processes are developed, the size of semiconductor devices is shrinking. This led to the advent of an entirely new market in the electronics and technology segment. Microelectronics deals with the study and manufacturing of small and microscopic electronic components. Microelectronic devices are made by using a semiconductor material such as silicon and germanium. Electronic components including transistors, capacitors, resistors, diodes, insulators, and conductors are considered microelectronic devices. These devices are widely used for various applications in different industries including medical, aerospace, and military.

 

The spread of the COVID-19 pandemic is anticipated to have severe effects on the microelectronics market in short term. As the pandemic started to spread, governments of various countries across the world imposed lockdown orders, suggesting citizens to stay indoors and avoid visiting public places. Moreover, several device manufacturers were compelled to reduce or stop their production in order to comply with the lockdown orders by the government. On the other hand, the sale of products such as electronic appliances, vehicles, computers, smartphones, and TVs had declined during the lockdown, as less consumers are visiting the stores and spending on the products. The lower production and sale of these products decrease the demand for microelectronics devices used inside them. Nevertheless, the demand for microelectronics from medical equipment and devices industry is estimated to have raised during the pandemic. This, in turn, is expected to drive the microelectronics market during the pandemic.

 

The low cost and lightweight associated with the microelectronics components are majorly driving the market growth. Developments in microelectronics have made it feasible to build an inexpensive and low-power miniature sensing device. Moreover, microelectronics has been a rapidly growing field of electronics due to its applications in several sectors. It has several applications in construction, automotive and electronic industries that are fueling the market. However, the fragility of the product cannot bear rough handling and excessive heat which can hamper the growth of the market. The establishment of advanced technologies is fueling the demand for the microelectronics market. The growing implementation of technologies such as Industry 4.0, Artificial Intelligence, and the Internet of Things is predicted to boost the market growth over the forecast period. Furthermore, innovations such as hybrid cloud storage, next-generation displays, wireless charging, and flexible electronics are expected to create various opportunities.

 

In terms of geography, the North American region accounted for the largest share in the global microelectronics market. The high adoption of advanced technologies is propelling the microelectronics market growth in this region. Moreover, the favorable government policies and increasing approvals for various electronic devices are further augmenting the market growth in this region. Asia-Pacific region is expected to project the fastest growth in the microelectronics market. The increase in investments and digitization is boosting the growth in the Asia-Pacific region. Furthermore, the technological advancement in the automotive industry is further propelling the microelectronics market in Asia-Pacific.

 

Segment Covered

The report on the global microelectronics market covers segments such as software & algorithm, and product. On the basis of software & algorithm, the sub-markets include behavioral and proactive. On the basis of product, the sub-markets include lighting control, security & access control, HVAC control, entertainment control & others, and other control.

 

Companies Profiled:

The report provides profiles of the companies in the market such as 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, and Schneider Electric SE.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the microelectronics market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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