Computer Microchips Market Expected to Reach $57.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Computer Microchips Market," The computer microchips market was valued at $21.2 billion in 2021, and is estimated to reach $57.3 billion by 2031, growing at a CAGR of 10.6% from 2022 to 2031.

A computer microchip is a compact form of electronic circuit, also characterized as an integrated circuit (IC), that is one of the basic units of most electronic equipment, particularly computers. These microchips are also referred to as micro-chips. Computer microchips are compact and made up of semiconductors, which include multiple tiny elements such as transistors and are used to send electrical data packets. They gained popularity in the latter part of the twentieth century owing to their tiny size, high efficiency, and ease of manufacture.

Over the past three decades, the semiconductor industry has experienced rapid growth and delivered enormous economic impact. Computer microchip performance and cost improvements made possible the evolution from mainframes to PCs in the 1990s, the web and online services in the 2000s, and the computer revolution in the 2010s.

The technological innovations have created incredible economic benefits. Microchips have become essential to the modern world, which is why long-term market demand for computer chip in hand and micro computer chips remains strong. According to computer microchips market analysis, the memory chips segment was the highest contributor to the market in 2021 and is expected to follow the same trend during the forecasted period. The consumer electronics segment accounted for around 49.4% market share in 2021. Surge in the use of personal computers, laptops, tablets and other consumer electronics products has driven the growth of the computer microchips market size.

The outbreak of the COVID-19 has significantly impacted the growth of the computer microchips market growth. The computer microchips market key players profiled in the report include Intel Corp, Taiwan Semiconductor Manufacturing Co. Ltd, Qualcomm Inc, Broadcom Inc, Texas Instruments Inc, NVIDIA Corp, ST Microelectronics NV, NXP Semiconductors NV, Advanced Micro Devices INC and Infineon.

The recent computer microchips market trends signify that market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition, to expand their foothold in the computer microchips market.

KEY FINDINGS OF THE STUDY

• In 2021, the 2.5D IC segment was the major revenue contributor to the computer microchips industry, and is projected to grow at a notable CAGR of 7.58% during the forecast period.
• The industrial segment is projected to growth at a CAGR of  9.4% during the forecast period.
• Asia-Pacific contributed for the major computer microchips market share, accounting for more than 37.5% share in 2021.

Key players profiled in the report include Intel Corp, Taiwan Semiconductor Manufacturing Co. Ltd, Qualcomm Inc, Broadcom Inc, Texas Instruments Inc, NVIDIA Corp, ST Microelectronics NV, NXP Semiconductors NV, Advanced Micro Devices INC and Infineon. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition to expand their foothold in the computer microchips market.