The semiconductor foundry market was USD 146.5 billion in 2023, which will rise to USD 236.3 billion, with a 7.2% compound annual growth rate, by 2030.

The growth of this industry is because of the mounting need for integrated circuits in the rising consumer electronics, medical, automotive, and various other sectors, the increasing government investment for the expansion of the semiconductor sector, and the surging acceptance of IoT-enabled devices. 

Moreover, semiconductors are essential components in electronic devices in communication, computing, automotive, defense, and healthcare & medical sectors; and substantial evolving technologies like quantum computing and AI. 

Furthermore, over the past few years, a swift move has been observed in customer behavior, which has made the world more focused on technology. Moreover, industry players and governments are actively following the expansions in the microelectronics sector as these technologies can possibly boost R&D for microelectronics and the demand for semiconductors.

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North America is the second-largest contributor to the industry. This can be because of the advancing electronics & semiconductor sectors, the existence of key companies, and the growing need for electronic systems in the automotive sector.

Europe is advancing at a high rate. This will be because key nations, including the U.K., Germany, the Netherlands, and France are accepting cutting-edge technologies, and the constant progression in end-use sectors like electronics, IT, telecom, health, manufacturing, finance, retail, and agriculture.

With the rising uses of IoT-based devices and the growing adoption of ICs in automobiles, the semiconductor foundry industry will continuously advance in the coming years.