According to market research and consulting firm Insightace Analytic, the Taiwanese semiconductor market reached US$660.6 billion by 2031, growing at a CAGR of 5.8% during the forecast period.
Taiwan has emerged as one of the most competitive industry competitors in both advanced and mature process technologies.
Tech Giant TSMC (Taiwan Semiconductor Manufacturing Co) chips are used in home appliances such as digital video compact disc players, digital televisions, gaming consoles, digital cameras, and other personal computers and peripherals, information applications, wireless and wireless communication systems, automobiles and industrial products.
“Taiwan’s semiconductor industry is expected to grow faster due to the growth of emerging applications such as AIOT, 5G and high-performance computing, as well as the benefits of the most advanced technologies in the field and the continued full capacity.”
Notable players in the Taiwanese semiconductor market include TSMC, ASE Technology, AU Optronics, MediaTek, Lite-On Technology and United Microelectronics.
The semiconductor industry is expected to maintain strong growth during the forecast period to meet the growing demand for semiconductor materials for emerging technologies such as AI, autonomous driving, the Internet of Things and 5G.
Furthermore, industrial automation, continuous improvements in home appliances, and the use of vehicle sensors have led to vertical expansion of semiconductor applications and demand for almost every industry.
“The market is expanding primarily because it focuses primarily on home appliances,” the media release said. “Increasing the use of smartphones and other consumer goods is about increasing investment in process equipment, but another factor in gaining competitiveness.”
