Microchip Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

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Microchip Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Status : May, 2021 | Semiconductor & Electronics

Report Digest

The global market for microchip is projected to have a steady growth during the forecast period 2020-2030. Use of microchips in credit cards for ensuring secure payments, in smart electronic devices, IoT based applications, recording data, etc. is intensifying the sales of microchips.

Surging Demand for Consumer Electronics

Microchips find use in smart phones and consumer electronics and as per World Economic Forum, consumer electronics were one of the fastest growing areas in sales (globally) in 2020. This demand has led to increase in sale of microchips in the aforementioned sector. Compactness of chips in electronic components may also act as a driver for the demand of microchips in the near future.

Escalating IOT and 5G demand

Global efforts to integrate the Internet of Things and 5G implementation could escalate the demand for microchips. Requirement in prevailing artificial intelligence, driverless vehicles, and quantum computing may surge the sales during the forecast period 2020-2030.

microchips market

Health Risks Associated with Implanting Microchips in Pets

Microchips are being implanted in pets by animal shelters, veterinarians for identification purpose. A report published by British Small Animal Veterinary Association states that these microchips inside an animal grow cancerous cells. In UK some animals have experienced neurological damage due to microchips inserted.  

Competitive Landscape

  • Samsung Elecronics Co., Ltd.
  • Intel Corporation
  • Qualcomm Technologies, Inc
  • Broadcom
  • Analog Devices, Inc
  • Taiwan Semiconductor Manufacturing Company, Ltd.
  • Nvidia Corporation
  • Texas Instruments Incorporated
  • United Microelectronics Corporation
  • Advanced micro devices
  • Microchip Technology Inc.

Prominent players in the market are focussing on recent developments such as:

  • Microchip in March 2020 expanded its silicon carbide family of power electronics. The new module includes various topologies such as dual diode, full bridge, phase leg, dual common cathode, and 3-phase bridge.
  • In March 2020 Sequans Communications announced collaboration with Microchip technology Inc. aiming to deliver 5G LTE-M/NB-IOT connectivity solutions. The collaboration aims to support Microchip’s strategy of making it simple for developers to connect with cloud.
  • Microchip and Efficient Power Conversion in a partnership have launched demonstration boards for 250W, 480V DC-DC Conversion.

Regional Outlook

Asia pacific region is expected to be highest growing sector in microchips owing to rise in demand for consumer electronics in countries like China, Taiwan, South Korea, Japan, etc. Growth in development of semiconductor units and prevalent use of microchips in electronic gadgets are the key growth prospects.

Growth in North America is also expected during the forecast period 2021-2031 due to rising adoption of IoT based technologies in electronic appliances by consumers.


Based on Product Type

  • Microprocessor chip
  • Interface chip
  • Memory chip

Based on Type

  • Analog signal
  • Digital Signal
  • Mixed signal

Based on End User

  • Consumer Electronics
  • Automotive
  • Healthcare
  • Military
  • Aerospace

Based on Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Why is there shortage of microchips in the market?

Demand for smart phones and consumer electronics have surged in whole pandemic and is still going on, the production and demand rate is not proportional and thus, during the end week of January, production for Ford escape and Lincoln Corsair plants were stooped due to the shortage.

  • Which are the key players in the microchip market?

Texas Instruments Incorporated and Microchip Technologies, Sequans Communication are some of the manufacturers focussing on greater research and development efforts.

  • What is the application segment expected to witness high growth?

Consumer electronics sector, automotive, robotics, IoT and artificial intelligence offer requirement of microchips at higher rate.

  • Which countries in Asia Pacific are majorly serving for the boost in demand of microchips?

India, China, South Korea, Japan, Taiwan act as the focal point of consumer electronics. Growing population is the main reason impacting the growth positively.

  • What can be the restraints that hinder the growth of microchips?

High initial cost of design, Development and maintenance, and health issues.  

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?