세계의 산업용 반도체 시장 : 성장 기회(2024-2029년)

Sustainability, Digital Transformation, and the Convergence of AI and Connectivity will Drive Demand for Specialty Semiconductors, Such as AI Chipsets and Compound Semiconductors, in the Industrial Semiconductor Market

Semiconductor devices used in the industrial sector are referred to as industrial semiconductors. While the term "industrial" is very broad, the specific applications in scope include industrial automation systems (such as PLCs, SCADA, and motor drives), as well as aerospace and defense, healthcare, education, energy (including green energy and EV charging), and other sectors.

Current weaknesses in the industrial semiconductor market are primarily attributed to the global macroeconomic scenario, which has led to inventory depletion at customer sites. Consequently, demand has been low, resulting in a decline in sales.

However, some market participants expect the situation to improve by the end of 2024 or by mid-2025, after which the market for industrial semiconductors is expected to enter a growth phase once again.

In 2025 and beyond, market growth will be fueled by megatrends such as AI, digital transformation, connectivity, the convergence of AI and connectivity, and sustainability.

The report aims to estimate the SAM of the market from a revenue perspective and further identifies the trends that will shape the future of the market in the next five years.

The market revenues only represent sales of new chips; they exclude sales of refurbished components.

The study provides a global analysis of the industrial semiconductor market, with segmentation by the following regions:

• The Americas, which includes North America (the United States and Canada), Latin America (Brazil, Mexico, Argentina, and Central and South America), and others (e.g., the Caribbean Islands)
• Europe, the Middle East, and Africa (EMEA), including Russia
• Asia-Pacific (APAC), which includes countries on the western border of the Pacific Ocean, those on the Indo-Chinese Peninsula and the Pacific Islands, and in Central Asia

The Impact of the Top 3 Strategic Imperatives on the Global Industrial Semiconductors Industry

Disruptive Technologies

• Why
• The semiconductor industry is exploring technologies and materials beyond silicon to meet the power, performance, and area challenges of developing devices for next-gen applications that address megatrends like sustainability.
• Compound semiconductor materials like SiC, gallium nitride (GaN), gate-all-around (GaA) transistors, and indium phosphide (InP) are being developed for advancing power and RF products. Silicon photonics technology is being actively pursued to solve computing challenges.
• Frost Perspective
• The material and technology platforms mentioned above are at various stages of R&D and commercial maturity. In 2025, there will be more momentum for leveraging materials beyond silicon and for adopting new computing technologies for two reasons:
• To reduce the race to be a leader in emerging technologies.
• Alternative and superior technologies need not be manufactured in isolation.

Internal Challenges

• Why
• The skill shortage issue widely impacts the semiconductor industry as time-to-market and cost issues increase across design and manufacturing processes. In the industrial semiconductor market, this problem is amplified mainly because of the need for design customization at scale driven by the sheer breadth of applications.
• As a result, design engineers are required to handle a large volume of requests while striving to remain competitive.
• Frost Perspective
• EDA solutions need to play a larger role. Overcoming skill shortages with software solutions is not an easy approach. Engineers working across design and manufacturing processes need to be empowered with AI-powered design, allowing and enabling them to tackle challenges while providing end-to-end design testing and quality productivity.
• STEM initiatives are needed to boost new workforce generation, and industries need to partner with academic institutions and invest in infrastructure, education, and training for successful careers in the semiconductor industry.

Geopolitical Chaos

• Why
• Post-pandemic supply chain disruptions highlighted the semiconductor industry's overreliance on the South Asian region.
• Countries are intensively having nationalized semiconductor industries, sparking a race for self-sufficiency and technological dominance.
• Trade wars (e.g., the US vs. China) and the imposition of sanctions and tariffs across industries have negatively impacted power semiconductor supply chains.
• The Russo-Ukrainian War and China-Taiwan conflict destabilized international markets.
• Frost Perspective
• The industry needs an electronics ecosystem that connects all parts of the value chain.
• The global ecosystem for semiconductors is so extensive that making it completely self-sufficient is not a viable goal.
• Western countries cannot compete with Asian countries' cost advantages. Instead of reshoring, Western countries should focus on friend-shoring and near-shoring to reap cost benefits.
• Establishing back and fabs for power semiconductor chips will help make their position in the semiconductor supply chain.

Key Competitors

Global

• Analog Devices
• Fuji Electric
• Infineon Technologies
• Microchip Technology
• MINEBEA MITSUMI Inc.
• Mitsubishi Electric
• Navitas Semiconductor
• Nexperia
• Onsemi
• Power Integrations
• Renesas Electronics
• ROHM
• Sanan IC
• Semikron-Danfoss
• STMicroelectronics
• Texas Instruments
• Toshiba Electronic Devices
• Transphorm
• Vincotech GmbH
• Vishay Intertechnology
• Wolfspeed

APAC

• Actron Technology Corp.
• BYD Semiconductor
• CR Micro
• Fuji Electric
• Innoc Semiconductor
• KEC Corporation
• Kyocera
• Leapers Semiconductor
• Magnachip
• MINEBEA MITSUMI Inc.
• Mitsubishi Electric
• Power Master Semiconductor
• Renesas Electronics
• ROHM
• Sanan IC
• Sanken Electric
• SemilQ
• Silan Microelectronics
• SIRETEXFIR Corp.
• Star Semiconductor Corp.
• Toshiba Electronic Devices
• WeEn Semiconductors

EMEA

• CambridgeGaN Devices
• Diotec Semiconductor AG
• Dynex Semiconductor Ltd.
• Infineon Technologies
• Nexperia
• Robert Bosch
• Semikron-Danfoss
• STMicroelectronics
• Vincotech GmbH
• VisIC Technologies

Americas

• Alpha and Omega
• Semiconductor
• C&H Technology Inc.
• Diodes Inc.
• Efficient Power Conversion
• Litefuels
• MaxPower Semiconductor
• Microchip Technology
• Navitas Semiconductor
• Onsemi
• Polar Semiconductor
• Power Integrations
• Power Semiconductors Inc.
• Powerex Inc.
• Oorvo
• SiPower Inc.
• Texas Instruments
• Transphorm
• Vishay Intertechnology
• Wolfspeed

Growth Drivers

• Sustainability.
• Digital Transformation.
• Edge Devices.
• Manufacturing Investments to Regain Momentum:

Growth Restraints

Macro-economic Scenario:

The industrial sector contributed 13.7% of the total semiconductor devices market revenue in 2023 despite a decline in revenues in the same year. The sector was poised for growth in the following years, riding the momentum of two consecutive years of revenue growth, as industry implementation in the post-pandemic world gained steam. However, a weak macroeconomic situation, which began in late 2023, continued to impact the industrial sector. As a result, inventory levels in industrial and markets remained high in the first half. Furthermore, an expected revival of demand in the following year has been delayed due to uncertainty surrounding geopolitics and a resulting weaker investment climate.

Lack of Skilled Resources:

The shortage of skilled talent significantly impacts the overall semiconductor industry, with concerns over time-to-market and cost management increasing across both design and manufacturing processes. In the Industrial semiconductor market, this problem is further amplified because the need for design customization is large due to the high volume of applications in this sector.

High Time-to-market and Design Costs:

The challenges in designing next-generation semiconductor devices are increasing due to shrinking process nodes, effectively testing the physical and scientific limits of semiconductor technology. As a result, developing products is becoming expensive and time-consuming. The industry is becoming very stringent in assessing the long-term commercialization prospects of research investments. Smaller branch projects are likely to be shelved, thus missing opportunities to drive new innovations.

Table of Contents

Research Scope

• Scope of Analysis
• Product Segmentation
• Segmentation by End-User Vertical

Growth Environment: Transformation in the Industrial Semiconductors Market

• Why is it Increasingly Difficult to Grow?
• The Strategic Imperative 8™
• The Impact of the Top 3 Strategic Imperatives on the Global Industrial Semiconductors Industry

Ecosystem in Industrial Semiconductors Market

• Distribution Channels
• Competitive Environment
• Key Competitors

Growth Generator in Industrial Semiconductors Sector

• Growth Metrics
• Growth Drivers
• Growth Restraints
• Forecast Considerations
• Revenue Forecast
• Revenue Forecast by End Markets
• Revenue Forecast by Semiconductor Devices
• Revenue Forecast by Region
• Revenue Forecast Analysis
• Megatrend 1-Artificial Intelligence in Manufacturing
• Megatrend 2-Sustainability: Innovating to Zero
• Revenue Share
• Revenue Share By End Market, 2024
• Revenue Share Analysis

Growth Generator Industrial Systems and Machines Sector

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Semiconductor Devices
• Revenue Forecast Analysis

Growth Generator Energy Sector

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Semiconductor Devices
• Forecast Analysis
• Forecast Analysis
• Forecast Analysis-Wireless EV Charging Systems and Methods

Growth Generator Aerospace and Defense Sector

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Semiconductor Devices
• Forecast Analysis

Growth Generator Medical Sector

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Semiconductor Devices
• Forecast Analysis

Growth Generator Other Sectors

• Growth Metrics
• Revenue Forecast
• Revenue Forecast by Semiconductor Devices
• Forecast Analysis

Growth Opportunity Universe in Industrial Semiconductors Market

• Growth Opportunity 1: Railways
• Growth Opportunity 2: AI-assisted Testing
• Growth Opportunity 3: EV Charging

Appendix & Next Steps

• Benefits and Impacts of Growth Opportunities
• Next Steps
• List of Exhibits
• Legal Disclaimer