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 : February, 2023 | 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.  

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?