Semiconductor and Electronics Domain: Allied Market Research’s Top 5 Emerging Markets in Q2 2024
For several reasons, the semiconductor and electronics domain has been one of the most dynamic sectors in the global economy. Global events like the COVID-19 pandemic and geopolitical tensions have modified the semiconductor supply chains, thus creating numerous opportunities for new players to compete with multinational giants in the realm. Furthermore, as electronics and semiconductor technologies have progressed, new consumer electronic goods have been developed which have broadened the scope of the field considerably. These innovations have also led to the establishment of new industries which have contributed to the growth of this sector in the past few years.
To help companies operating in the sphere understand its changing dynamics, Allied Market has come up with a study that analyzes the top 5 emerging markets in the semiconductor and electronics domain for Q2 2024. Using its in-house ‘Title Tool Matrix’, AMR has analyzed five markets in the domain based on various parameters like CAGR values, revenue numbers, latest developments, investment opportunities, and upcoming trends.
Automotive Smart Camera Market
The recently published Allied Market Research report on the automotive smart camera market highlights that the industry accounted for $3.4 billion in 2023 and is set to reach $27.2 billion by 2032, thereby surging ahead at a CAGR of 26.1% from 2024 to 2032. In the past few years, governments across the globe have enacted different kinds of road safety regulations that mandate the use of automotive smart cameras. Furthermore, there is an increase in innovative technologies like advanced driver assistance systems (ADAS) in vehicles. Both these factors have played a huge role in the rise of this industry in the second quarter of 2024.
As part of the regional analysis, the report also covers the performance of the market in various regions like North America, Europe, Asia-Pacific, and LAMEA. In the case of the automotive smart camera landscape, the Asia-Pacific province is estimated to be the most dominant from 2024 to 2032. The countries in the region such as India, China, Japan, South Korea, etc., are some of the biggest automobile manufacturing nations globally which has directly impacted the market in a positive sense. Moreover, the increasing awareness regarding vehicle safety has led to an increase in demand for automotive smart cameras, thus increasing the revenue share of the industry.
Wireless Charging Market
Wireless charging technology has become quite popular in recent times due to its ability to offer stable, efficient, cost-effective, and safer charging options for different kinds of electrical and electronic devices like smartphones, laptops, tablets, and smart wearables. The advantages offered by the technology have increased its applicability drastically in Q2 2024. Along with this, the advent of new wireless charging technologies like the drop & charge system by Humavox Company is also predicted to bring in new opportunities for growth in the landscape soon. These factors are expected to help the wireless charging market grow at a CAGR of 22.2% from 2020 to 2027 and reach $40.24 billion by 2027.
The AMR report studies the different aspects of the landscape on the basis of technology and industry verticals. Based on the industry vertical, the electronics segment is anticipated to offer lucrative opportunities within the market. This is mainly because of the emergence and the rising adoption of innovative technologies such as the Internet of Things (IoT). Such technologies have significantly improved the overall efficiency of wireless charging systems, thus aiding in the expansion of the industry in the second quarter of 2024.
Smart Home Appliances Market
The Allied Market Research report on the smart home appliances market states that the industry, which accounted for $32.12 billion in 2023, is expected to gather a revenue of $69.26 billion by 2032, thus growing at a CAGR of 8.92% from 2023-2032 period. The report further highlights that the changing lifestyle of people living in urban areas and metropolitan cities and the growing disposable incomes of the global population are the main factors influencing the growth of the landscape. To help businesses understand its evolving nature, the industry’s leading players such as Samsung Electronics Co., Ltd., Whirlpool Corporation, Panasonic Corporation, and Haier Electronics Group Co., Ltd., are profiled and studied in the report.
A major focus area of the AMR report is on the technological advancements that have taken place in the field of smart appliances. The study covers the latest developments in the industry including IoT, voice recognition systems, artificial intelligence, home automation, etc. For instance, the advantages offered by modern home security and surveillance systems are elaborated as part of this study. Furthermore, innovations in home entertainment appliances and the development of sophisticated health and wellness monitoring technologies are discussed in detail. Thus, the report provides a holistic overview of the market and touches upon its various aspects in a comprehensive manner.
E-waste Disposal Market
Electronic waste or e-waste refers to discarded and obsolete electronic appliances like mobiles, refrigerators, TV sets, laptops, microwave ovens, etc. The proper disposal of e-waste is extremely important as most of this waste contains harmful materials like lead, beryllium, brominated flame retardants, cadmium, etc., whose exposure could lead to disastrous consequences. To improve the recycling processes and the efficiency of waste disposal systems new technologies have come up in the e-waste disposal market, broadening the industry’s scope. Furthermore, the growing use of digital electronic devices has also helped the landscape flourish in Q2 2024. Owing to these factors, the e-waste disposal market is estimated to garner a revenue of $198.5 billion by 2032 and grow at a CAGR of 13.6% from 2024 to 2032.
To aid businesses in focusing on the key investment areas, the AMR report divides the landscape into various segments on the lines of material and source. Based on material, the metal sub-segment held the highest revenue share in 2023 and is set to offer profitable opportunities to the industry in the coming period. This is primarily due to the high value of metals like gold, silver, palladium, etc., which are regularly used in different electronic components. Along with this, other sub-segments like plastic and glass are also thoroughly discussed in the report.
Optical Fiber Market
As per the AMR report on the optical fiber market, the industry is expected to surge ahead at a CAGR of 5.5% from 2024 to 2032 and register a revenue share of $11.9 billion by 2032. With the launch of 5G services in developed and developing economies across the globe, the demand for high-speed internet has increased. Also, many countries have made conscious efforts to ramp up their telecommunications networks. Both these factors have positively impacted the growth rate of the industry in the second half of 2024 and are expected to play a key role in its rise in the near future.
Apart from focusing on the growth drivers of the landscape, the study also covers its performance in various regions such as North America, LAMEA, Europe, and Asia-Pacific. The countries such as the US, the UK, Canada, France, India, Germany, China, Japan, etc., are studied in detail as part of this analysis. As far as the optical fiber market is concerned, the report states that the Asia-Pacific province is set to witness major growth owing to technological advancements and heavy investments in telecommunications infrastructure in countries like India, China, and Japan.
Studying the Evolution of the Semiconductor and Electronics Domain in Q2 2024
The main purpose of publishing the AMR study on the top 5 emerging markets in the semiconductor and electronics sector is to help businesses understand the evolving nature of the domain so that they can formulate their strategies accordingly. The actionable data and market intelligence provided through these reports enable companies to measure their performance and take an overview of the changing dynamics of the sector. For instance, the technological advancements in telecom infrastructure and the launch of 5G services are set to transform the optical fiber landscape in the years to come. Similarly, the smart home appliances industry is expected to witness massive changes in the next few years due to the advent of home automation technologies.
Final Words
The AMR reports, with the help of scientific analytical tools like Porter’s five forces, provide the competitive scenario of the landscape to aid companies in increasing their footprint and taking a lead over their peers. Furthermore, the socioeconomic, demographic, cultural, and technological factors discussed in the report enable companies to adapt to different regions and regulatory environments in a much better manner.
For more insights into the semiconductor and electronics domain, contact our experts.
