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Semiconductor Market size is set to grow by USD 112.8 billion from 2024-2028, Growing adoption of IoT devices to boost the market growth, Technavio

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NEW YORK, July 2, 2024 /PRNewswire/ — The global semiconductor market  size is estimated to grow by USD 112.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.42%  during the forecast period.  Growing adoption of IoT devices is driving market growth, with a trend towards increasing adoption of sustainability manufacturing. However, supply-demand gap in semiconductor industry  poses a challenge. Key market players include Analog Devices Inc., Broadcom Inc., Infineon Technologies AG, Intel Corp., MediaTek Inc., Microchip Technology Inc., Micron Technology Inc., NVIDIA Corp., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., Skyworks Solutions Inc., Sony Group Corp., STMicroelectronics International N.V., Taiwan Semiconductor Manufacturing Co. Ltd., Texas Instruments Inc., Toshiba Corp., and Wolfspeed Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Networking and communication, Data processing, Industrial, Consumer electronics, and Others), Product (ICs, Optoelectronics, Discrete semiconductors, and Sensors), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Analog Devices Inc., Broadcom Inc., Infineon Technologies AG, Intel Corp., MediaTek Inc., Microchip Technology Inc., Micron Technology Inc., NVIDIA Corp., NXP Semiconductors NV, ON Semiconductor Corp., Qualcomm Inc., Renesas Electronics Corp., Samsung Electronics Co. Ltd., Skyworks Solutions Inc., Sony Group Corp., STMicroelectronics International N.V., Taiwan Semiconductor Manufacturing Co. Ltd., Texas Instruments Inc., Toshiba Corp., and Wolfspeed Inc.

 

Key Market Trends Fueling Growth

The semiconductor industry requires significant energy and water resources, with a single fabrication plant consuming approximately 1 terawatt-hour of energy annually and two-to-four million gallons of ultra-pure water daily. The increasing demand for semiconductors, driven by emerging technologies like 5G, AI, and IoT, necessitates production growth. Industry leaders, such as TSMC and Intel, are addressing sustainability concerns through water recycling, diverse water sources, and pollution prevention. By 2030, Intel aims to conserve 60 billion gallons of water and 4 billion kWh of energy, while using 100% renewable energy. Vendors’ sustainability efforts enhance their brand image, contributing to the global semiconductor market’s growth. 

The semiconductor market is experiencing significant growth with the increasing adoption of technology in various industries. The demand for advanced technologies such as Artificial Intelligence, Machine Learning, and Internet of Things (IoT) is driving the market. The automotive industry is also a major contributor, with the integration of semiconductors in electric vehicles and autonomous driving systems. The market is competitive with players like Powerexpress, Mosfet, and Discreteset producing and supplying semiconductors. The trend towards miniaturization and higher performance is leading to the development of new technologies like 5G and SUPPLY-chain management is crucial for companies to meet the growing demand. The semiconductor market is expected to continue its upward trajectory in the coming years. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The semiconductor industry faces challenges due to high demand for chips in sectors like IoT, AI, data centers, and smart technologies. This demand exceeds supply, causing price increases and longer lead times for manufacturers. Transitions to advanced manufacturing nodes bring production challenges and yield issues, widening the supply-demand gap. These factors may impact the semiconductor market’s growth during the forecast period.The semiconductor market faces several challenges in the present scenario. The increasing complexity of semiconductor designs calls for advanced manufacturing processes and technologies. The cost of research and development is high, and the competition is intense. The demand for smaller, faster, and more energy-efficient chips is driving innovation. However, the market is also affected by economic and geopolitical factors, such as trade policies and supply chain disruptions. The semiconductor industry must adapt to these challenges to remain competitive and meet the evolving needs of consumers and businesses. The use of automation and digitalization can help improve efficiency and reduce costs. Collaboration and partnerships can also help share risks and resources. The semiconductor market is dynamic and requires continuous innovation and investment to stay ahead.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This semiconductor market report extensively covers market segmentation by

Application 1.1 Networking and communication1.2 Data processing1.3 Industrial1.4 Consumer electronics1.5 OthersProduct 2.1 ICs2.2 Optoelectronics2.3 Discrete semiconductors2.4 SensorsGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Networking and communication-  The networking and communication segment is a major sector in the global semiconductor market, driven by the increasing demand for efficient communication solutions. This segment includes semiconductor devices and components used in various communication technologies and networking infrastructures. The rollout of 5G technology and the growth of IoT devices are key factors fueling this demand. Semiconductor solutions support high-speed data transmission, energy efficiency, and wireless connectivity for these applications. The increasing popularity of data-intensive activities like video streaming and online gaming further boosts the need for advanced semiconductor technologies. As a result, the networking and communication segment of the semiconductor market is expected to experience significant growth during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The semiconductor market is experiencing significant progress and breakthroughs in contemporary technology, driven by the integration of artificial intelligence (AI) and the Internet of Things (IoT). Machine learning algorithms are being employed in B2B, B2G, and B2C enterprises to optimize inventories, improve fab utilization, and enhance profitability. IDC reports that the global semiconductor market is expected to grow, fueled by the demand for memory chips in PC sales, smartphones, communication devices, data center chips, and various semiconductor devices. The semiconductor industry association anticipates subsequent technologies, such as VAT, Spring, and advanced computer chips, to further propel market growth. Electronic components and semiconducting materials, including transistors and diodes, continue to be essential building blocks in this dynamic industry.

Learn and explore more about Technavio’s in-depth research reports

The global Front End of the Line Semiconductor Equipment Market is experiencing robust growth due to the increasing demand for advanced semiconductors in various industries. Concurrently, the global Semiconductor IP Market is expanding, driven by the need for efficient and cost-effective semiconductor design solutions. Additionally, the Magneto Resistive RAM (MRAM) Market is gaining traction as MRAM technology offers significant advantages in terms of speed, endurance, and power efficiency. These trends highlight the dynamic nature of the semiconductor industry, underscoring the critical role of innovative technologies in shaping the future of electronics.

Market Research Overview

The Semiconductor Market encompasses the design, manufacturing, and sale of various types of semiconductor components, including microprocessors, memory chips, sensors, and other electronic components. These semiconductors are integral to numerous industries, such as consumer electronics, automotive, healthcare, and telecommunications. The market is driven by factors like increasing demand for miniaturization, automation, and connectivity in various sectors. Additionally, advancements in technology, such as the Internet of Things (IoT), artificial intelligence (AI), and 5G networks, are fueling the growth of the semiconductor industry. Semiconductors are also essential for power electronics, renewable energy systems, and electric vehicles, further expanding the market’s scope. The semiconductor industry is characterized by continuous innovation, intense competition, and rapid technological advancements.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationNetworking And CommunicationData ProcessingIndustrialConsumer ElectronicsOthersProductICsOptoelectronicsDiscrete SemiconductorsSensorsGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Shoplazza Launches the World’s First AI-Native Commerce Operating System with a Unified Suite of AI Agents

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TORONTO, April 20, 2026 /PRNewswire/ — Shoplazza, a leading global commerce platform, announced the launch of the world’s first AI native commerce operating system recently, along with a unified suite of AI agents designed to execute across the entire ecommerce lifecycle. The release marks a major step forward in the company’s evolution from a traditional software platform to an AI-driven commerce infrastructure built for global scale.

At the core of the system is Shoplazza AI Store Builder, an intelligent agent that fundamentally changes how online stores are created. Instead of configuring tools manually, merchants can now generate fully functional, ready to sell storefronts through simple natural language input. By interpreting product information, target markets, and customer profiles, the system automatically builds site architecture, generates localized content, and provides initial go to market recommendations. What once required weeks of setup can now be completed in minutes, with a complete store and launch ready foundation.

Shoplazza also introduced LazzaStudio, an AI powered visual creation agent that streamlines how merchants produce content at scale. From product imagery to marketing creatives and campaign visuals, LazzaStudio transforms traditionally complex production workflows into a prompt driven process. With built in brand learning capabilities, the system generates consistent, high quality assets tailored for global audiences, enabling merchants to deploy content seamlessly across storefronts and advertising channels while significantly reducing production time and cost.

To complete the growth loop, Shoplazza launched AdValet, an AI advertising agent that automates campaign execution end to end. AdValet translates product data and market signals into audience targeting, creative generation, media planning, and campaign deployment. During live campaigns, it continuously monitors performance and dynamically optimizes outcomes through real time feedback and model iteration. This shifts advertising from manual, experience based trial and error to a system of continuous, AI-driven performance optimization.

These agents operate together within Shoplazza’s AI-native commerce operating system, where merchant intent is translated directly into coordinated execution. By unifying store creation, content production, and marketing into a single system, Shoplazza replaces fragmented workflows with an integrated layer of automation that enables faster, more predictable growth.

Shoplazza currently supports more than 650,000 merchants worldwide. With its AI-native architecture, the platform brings together previously disconnected capabilities into a single intelligent system, delivering improvements in efficiency, scalability, and operational reliability for businesses operating in increasingly complex global markets.

Looking ahead, Shoplazza will introduce Athena very soon, an AI admin agent designed to extend automation into day to day business management. Covering areas such as product management, order processing, analytics, and content operations, Athena allows merchants to interact with the system conversationally while orchestrating multiple agents in the background. This will complete a fully connected agent ecosystem spanning store creation, creative production, marketing execution, and ongoing operations.

“Commerce has reached a point where adding more tools no longer solves the problem,” said Jeff Li, Founder and CEO of Shoplazza. “What merchants need is a system that can understand intent and execute across the entire business. That is what we are building with our AI native commerce operating system. It is not just about making things easier. It is about making outcomes more predictable, scalable, and aligned with how modern commerce actually operates.”

About Shoplazza

Shoplazza is a global AI-native commerce operating system that enables brands to build, launch, and scale their online businesses. Built on an AI agent-native framework, Shoplazza integrates storefronts, marketing, payments, and operational workflows into a unified system designed to support scalable, long-term growth across global markets. Learn more at https://www.shoplazza.com/.

 

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SOURCE Shoplazza

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Pricer and JRTech Solutions sign 51 MUSD digital store transformation deal with Sobeys in Canada

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MONTREAL, April 20, 2026 /PRNewswire/ – Pricer AB, a global leader in digital shelf-edge solutions, announces that its Canadian partner JRTech Solutions has signed a major agreement with Sobeys, one of Canada’s leading supermarket chains. The contract includes the deployment of Pricer’s latest electronic shelf label (ESL) technology and the cloud-based platform Pricer Plaza across an estimated 300–350 stores.

The agreement covers the supply of multicolor electronic shelf labels and the necessary store infrastructure, with a total hardware and infrastructure value of approximately 51 MUSD (excluding Pricer Plaza). The deployment is scheduled for an 18-month period starting in May 2026.

“We are very grateful for the trust and that Sobeys has once again chosen Pricer as its long-term strategic partner,” says Mats Arnehall, Chief Growth Officer at Pricer. “This deal confirms our leading position in the North American market and the value of our high-performance system in high-density retail environments. Our scalable cloud platform, Pricer Plaza, will be the intelligence behind every label, enabling Sobeys to act faster and work smarter.”

“After years of close collaboration and shared success, we’re proud to grow our partnership with Sobeys even further with an expanded rollout,” says Diego Mazzone, President and CEO of JRTech Solutions. “That momentum is driven by our ability to consistently deliver reliable, high-quality solutions in complex retail environments. Together, we are positioning our digital smart labels at the heart of a broader digital transformation, driving operational excellence, unlocking real-time intelligence, and creating meaningful value for both Sobeys and their customers.”

Orders will be included in Pricer’s order intake as they are received.

About JRTech Solutions
JRTech Solutions Inc. is the leading North American turnkey Electronic Shelf Label (ESL) provider and the largest worldwide distributor of Pricer ESLs, involved in over 2,000 store installations since 2008. JRTech Solutions is the exclusive Canadian provider of AI-powered inventory scanning robotics powered by Brain Corp for automated inventory management.
For further information: www.jrtechsolutions.com

About Pricer
Pricer is a pioneer and partner for in-store communication and digitalization in the rapidly evolving retail tech landscape. As a global technology leader, we empower leading retailers worldwide to shape effortless and inspiring shopping experiences that fundamentally change buying behaviors, boost sales, and drive operational efficiency. Leveraging cutting-edge innovation, we deliver scalable, high-performing solutions that easily integrate with existing systems, are energy-efficient, and user-friendly. Founded in Sweden in 1991 and listed on Nasdaq Stockholm, Pricer has delivered over 380 million electronic shelf labels in more than 28,000 stores across more than 80 countries.
For further information, please visit www.pricer.com

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SOURCE JRTECH SOLUTIONS INC.

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Mitate Zepto Technica Joins JST’s Next-generation Edge AI Semiconductor R&D Program as Social Implementation Partner

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– MZT to Lead Product Commercialization through Its Genome-analysis Accelerator “RASEN” –

TOKYO, April 20, 2026 /PRNewswire/ — Mitate Zepto Technica, Inc. (hereinafter “MZT”), based in Tokyo’s Shibuya district, announced on April 20 that it has joined the national research initiative “Next-Generation Edge AI Semiconductor Research and Development Program” promoted by the Japan Science and Technology Agency (JST). MZT participates as a designated social implementation and commercialization partner for the research theme “Accelerating Edge Intelligence for AI for Science” (Principal Investigator: Makoto Taiji, Program Director, TRIP Headquarters, RIKEN).

Logo: https://kyodonewsprwire.jp/img/202604167540-O1-5Sz6I68Q 

This research theme aims to achieve advanced computational infrastructure through the integration of AI technology and next-generation edge semiconductors, with genome analysis as one of its key application domains. MZT participates as an organization responsible for the productization and social implementation of research outcomes through its proprietary genome-analysis accelerator “RASEN.”

Background

Since its founding in 2020, MZT has pursued a distinctive approach to genome analysis: purpose-built ASIC acceleration. Following technology validation through joint research with Tohoku University and other partners, MZT now participates as an R&D institution responsible for social implementation under this research theme.

MZT’s Role in the Program

Within this research theme, MZT will integrate AI research outcomes from RIKEN and Tohoku University into the RASEN architecture, and lead the R&D work toward social implementation through ASIC development and productization. As the industrial partner bridging research and real-world deployment, the company targets social implementation by 2029.

Program Overview

Research theme: Accelerating edge intelligence for AI for science
Promoting agency: Japan Science and Technology Agency (JST)
Principal investigator: Makoto Taiji, Program Director, TRIP Headquarters, RIKEN
Participating institutions: RIKEN, Tohoku University, Keio University, Mitate Zepto Technica
MZT’s participation start: April 2026 (FY2026)
JST program period: FY2025 onwards

Comment from Keisuke Harashima, President & CEO, Mitate Zepto Technica:
“It is a tremendous honor that we can lead the social implementation of this research theme through the acceleration of genome analysis via dedicated semiconductors — a challenge we have pursued since MZT’s founding. RASEN is at exactly the right inflection point, transitioning from research to real-world deployment. We will use this participation to accelerate commercialization across healthcare, drug discovery, and research infrastructure.”

About RASEN

RASEN is MZT’s proprietary genome-analysis accelerator under development, built on a purpose-designed ASIC architecture. In internal validation, RASEN has demonstrated the ability to complete whole-genome sequencing (WGS) analysis in approximately 5 minutes on a standard workstation — without the need for supercomputers or high-performance computing infrastructure. In independent validation studies conducted with Tohoku University, RASEN achieved 99.8% concordance with conventional analysis methods across 12 samples, confirming that its speed advantage does not come at the cost of accuracy.

About Mitate Zepto Technica

Mitate Zepto Technica is a Japanese deep-tech startup developing purpose-built semiconductor solutions for genome analysis. By harnessing cutting-edge chip technology, MZT aims to deliver transformative speed improvements in genomic computation –contributing to the resolution of global challenges in healthcare, food security, and energy through its proprietary products.

Website: https://mitatezeptotechnica.com/en/company/ 

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SOURCE Mitate Zepto Technica, Inc.

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