Semiconductor and factory automation markets projected for significant growth through 2030s

The global semiconductor and related device market is projected to reach approximately $941.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.5%. This expansion is driven by surging demand for AI chips, high-performance computing, the proliferation of smart connected devices, and increased use of power semiconductors in electric vehicles. Key market players include Samsung Electronics, TSMC, NVIDIA, Intel, and Qualcomm. The Asia-Pacific region is expected to hold the largest market share by 2025.

Simultaneously, the factory automation market is undergoing a transition toward ‘intelligent factories.’ The market is forecasted to grow from $241.18 million in 2025 to $502.66 million by 2035, representing a CAGR of 7.62%. This growth is fueled by the integration of AI, Industrial IoT (IIoT), digital twins, and robotics to enhance productivity and supply chain resilience. North America is expected to lead the factory automation market in 2025, supported by investments in smart manufacturing, semiconductor production, and electric vehicle manufacturing.