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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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Sapient Insights Group Reveals the HR Technology Solutions Ranking Highest in Vendor Satisfaction and User Experience for 2026

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Voice of the Customer badges awarded across 23 HR technology categories, based on 10,000 responses to Sapient’s 2026-2027 Annual HR Systems Survey

LAS VEGAS, Oct. 21, 2026 /PRNewswire-PRWeb/ — Sapient Insights Group today revealed the HR technology solutions ranking highest in vendor satisfaction and user experience in its 2026-2027 HR Systems Survey, now in its 29th year. This year Sapient awarded 630 Voice of the Customer badges across 23 technology categories and three company sizes. The rankings are based on responses from HR professionals representing 6,038 organizations.

Stacey Harris, Chief Research Officer and Managing Partner at Sapient Insights Group, presents the HR technology solutions ranking highest in vendor satisfaction and user experience for 2026.

To help buyers find the providers that fit their organization, the rankings are split into three company sizes: small, mid-sized, and enterprise. Respondents rate their satisfaction with their current solution in each technology category on a scale of 1 to 5, with attention to support and service. Sapient also ranks solutions on user experience. The top five solutions in each category and size earn a badge for vendor satisfaction and a badge for user experience. Three categories with smaller sample sizes (Time Labor Budgeting, Contingent Workforce Management, and Skills Management) are ranked in aggregate across all company sizes.

The survey continues to grow with the HR technology market. New this year, the survey adds Compliance Management to the HR Blueprint, application-level outcome questions, payment models for applications and AI, and finance applications covering Core, Expense, and Planning. It also asks more “why” questions throughout, so the results show not just what organizations are doing but the reasons behind their choices.

“Our Voice of the Customer rankings come straight from HR practitioners, with no sponsorship involved, which is why buyers and vendors both pay attention to them,” said Stacey Harris, chief research officer and managing partner at Sapient Insights Group. “This year we expanded the rankings to cover more of the HR technology landscape, which gives buyers a clearer view of how solutions perform for the specific work they need done, not just at the suite level. It also gives vendors honest feedback from the people who use their products every day.”

The highest-ranking solutions for vendor satisfaction are listed below. Rankings include point solutions, modules within technology suites, and in some cases service providers.

Payroll
Dayforce – Enterprise
isolved – Mid-sized
BambooHR – Small

HR Management
Dayforce – Enterprise
HiBob – Mid-sized
BambooHR – Small

Benefits
Businessolver – Enterprise
Fidelity NetBenefits/PSW – Mid-sized
HiBob – Small

HR Service Delivery: Portal
Dovetail – Enterprise
Workday Help – Mid-sized
isolved – Small

HR Service Delivery: Content Management
Dovetail – Enterprise
DocuSign – Mid-sized
isolved – Small

HR Service Delivery: Employee Help Desk
Dovetail – Enterprise
ServiceNow – Mid-sized
isolved – Small

HR Service Delivery: Engagement Survey
Dovetail – Enterprise
isolved – Mid-sized
BambooHR – Small

Time and Attendance
Darwinbox – Enterprise
isolved – Mid-sized
isolved – Small

Absence Management
Darwinbox – Enterprise
isolved – Mid-sized
BambooHR – Small

Leave Management
Darwinbox – Enterprise
isolved – Mid-sized
isolved – Small

Workforce Scheduling
Darwinbox – Enterprise
isolved – Mid-sized
isolved – Small

Labor Budgeting
isolved – All sizes

Learning
Cornerstone – Enterprise
OpenSesame – Mid-sized
isolved – Small

Recruiting
Indeed – Enterprise
Greenhouse – Mid-sized
BambooHR – Small

Onboarding
Dayforce – Enterprise
isolved (ApplicantPro) – Mid-sized
BambooHR – Small

Performance
Dayforce – Enterprise
HiBob – Mid-sized
BambooHR – Small

Compensation
Dayforce – Enterprise
Payscale Payfactors – Mid-sized
Insperity – Small

Succession
Dayforce – Enterprise
Microsoft Glint – Mid-sized
Paylocity – Small

Rewards and Recognition
Awardco – Enterprise
isolved – Mid-sized
Gifted – Small

Analytics
Visier – Enterprise
Visier – Mid-sized
UKG People Analytics – Small

AI/ML
Visier Vee – Enterprise
Grammarly – Mid-sized
Anthropic Claude – Small

Contingent Workforce Management
ServiceNow – All sizes

Skills Management HiBob – All sizes

The complete Voice of the Customer results, including the top five solutions for vendor satisfaction and user experience in every category and company size, are available here (https://sapientinsights.com/top-vendors/).

Sapient Insights Group will publish detailed survey findings and analysis in its annual HR Systems Research Report on November 6, 2026. The report will be available to purchase here (https://sapientinsights.com/shop/).

About the 2026-2027 HR Systems Survey

Now in its 29th year, Sapient’s HR Systems Survey is the longest-running, most comprehensive survey of the HR technology landscape, and the only fully objective, non-sponsored study of its kind. This year, HR professionals representing 6,038 organizations around the globe took part. The survey now covers 23 technology categories. The annual report includes an in-depth look at each category, along with current and future adoption rates, customer retention, replacement plans, and projected vendor growth.

For more information about the survey and report, schedule a call (https://calendly.com/summerorellano/schedule-a-call-with-sapient-insights-group).

About Sapient Insights Group Sapient Insights Group is a certified women-owned, privately-owned consulting, research, and advisory firm. The company works with organizations in the areas of HR and finance technology; HR strategy and transformation; leadership and culture; change management; talent management; mergers and acquisitions; and project management. The company’s HR Systems Survey is the HR profession’s most trusted source for objective data on the HR technology market and insights to guide buyer investments and vendor product development and marketing. For more information, visit www.sapientinsights.com.

Media Contact

Allison Williams, Sapient Insights Group, 1 4043044748, Info@sapientinsights.com, https://sapientinsights.com/

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SOURCE Sapient Insights Group

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SAJ Debuts First CEC-Approved Systems under Australia’s New Battery Standard at All Energy 2026

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EK70 HS5 and EK90 HS5 on show at Stand M143, with Australia’s Strongest Man at Stand E01 and the SAJ range across three distributor stands

MELBOURNE, Australia, Oct. 22, 2026 /PRNewswire/ — SAJ will exhibit at All Energy Australia 2026 at the Melbourne Convention and Exhibition Centre on 28–29 October. At Stand M143, installers can get their first hands-on look at the EK70 HS5 and EK90 HS5, the first products approved under Australia’s new SA TS 5398 standard.

At 2pm on Wednesday 28 October, DEKRA and CCS will present SAJ with the CEC certificates for the EK70 HS5 and EK90 HS5 on the stand, making SAJ the first brand listed under SA TS 5398. SAJ and DEKRA will also sign a strategic cooperation agreement covering safety, quality and compliance.

On the stand

EK70 HS5 – the all-in-one home energy system, combining hybrid inverter, LFP battery and whole-home backup in one unit. Modular 6, 7 and 9 kWh battery blocks stack to suit the household.EK90 HS5 – the premium tier, with 12,000-cycle cells, nine-layer safety protection, edge AI and a 15-year warranty.B2S and H2 – modular storage and the latest from SAJ’s residential range.elekeeper 5.0 – SAJ’s energy management app, with AI-assisted design, five-minute app commissioning and remote diagnosis.C&I – SAJ’s latest commercial and industrial solutions.

Live demonstrations of the EK70 HS5 and EK90 HS5, elekeeper 5.0 and the C&I range run at 10am on both days and again at 3pm on Wednesday.

Visitors can also play the claw machine on the stand throughout both days to win tennis balls signed by SAJ brand ambassador Alex de Minaur.

Beat Australia’s Strongest Man of 2026 at Stand E01

At Stand E01, near the hall entrance, visitors can take on Bradman Houston, Australia’s Strongest Man 2026, on the high striker. Bradman will be there each day. Anyone who beats his score wins!

Bradman recently partnered with SAJ and Sydney Solar & Electrical on a video series about lifting technique and fitness for solar installers, now on SAJ’s Instagram.

SAJ across the floor

The SAJ range is also on show with the company’s three national distribution partners, for stock, pricing and account conversations:

One Stop Warehouse – Stand EE113, with the EK90 HS5 on displaySupply Partners – Stand L135Tradezone – Stand S113

“All Energy is where the industry sees what’s next, and for SAJ that’s the EK70 HS5 and EK90 HS5,” said Alan Li, the Sales Director of SAJ Electric Australia. “Installers told us they want one integrated system that’s faster to install and that they can stand behind. Being the first brand listed under SA TS 5398 is the proof. We’d love installers to see both systems up close at Stand M143, and to try their luck against Bradman at E01 while they’re there.”

Visit SAJ

Where: Stand M143 (Beat the Strongest Man at Stand E01), Melbourne Convention and Exhibition CentreWhen: Wednesday 28 – Thursday 29 October 2026More information: au.saj-electric.com

About SAJ

Founded in Guangzhou in 2005, SAJ (Guangzhou Sanjing Electric Co., Ltd.) is a specialist in smart energy storage, delivering integrated solutions across solar generation, battery storage, energy management and EV charging for residential and commercial customers. SAJ has operated in Australia since 2013 and works with three national distribution partners – One Stop Warehouse, Supply Partners and Tradezone – backed by local technical support and warranty infrastructure.

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SOURCE SAJ

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Starvia Automotive Expands Used-Car Exports to Afghanistan and Iran

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GUANGZHOU, China, Oct. 22, 2026 /PRNewswire/ — Starvia Automotive has added Afghanistan and Iran to the destinations covered by its used-car export business, the company said on Oct. 21, as it focuses on used vehicles built to Chinese-market specifications. Buyers in both markets can now request an assessment of a specific vehicle before an order is confirmed.

What the review covers

For a used vehicle, the model name alone does not determine whether an export order can proceed. Year of manufacture, vehicle identity, condition, ownership documents and destination import rules are reviewed for each request, together with carrier acceptance, transit requirements and payment restrictions, according to the company.

Starvia cited two listings in its online used-car catalog as examples of the process: a 2023 Volkswagen Polo and a 2021 Volkswagen Tharu. The company said the listings show published stock and do not confirm that either unit is available or eligible for import into both markets. Stock, vehicle records and destination suitability are confirmed before a model is presented as an order option.

How an inquiry is handled

Inquiries are submitted through the company’s online form, which asks for destination city, importer details, preferred vehicle, quantity and purchasing timeframe. Starvia said the information is used to identify suitable vehicles, check documentation and seek a transport option, and that alternatives can be discussed if the first model does not meet the requirements.

An Arabic-language version of the site is available at https://www.starviaauto.com/ar?utm_source=prnews for buyers who prefer Arabic.

Any vehicle offer, freight estimate or shipment timing remains subject to commercial, regulatory and logistics checks, the company said. Buyers should obtain destination-side import approval before committing to a purchase.

About Starvia Automotive

Starvia Automotive is a Guangzhou-based exporter of new and used vehicles. Its online catalog lists used cars with vehicle history and inspection information for buyers in multiple regions.

View original content:https://www.prnewswire.co.uk/news-releases/starvia-automotive-expands-used-car-exports-to-afghanistan-and-iran-302915298.html

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