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Semiconductor and Electronics Market

01 Mar 2022 • by Natalie Aster

The semiconductor and electronics industry reported constant growth from the time it came into being, approximately 40 years ago, until the economic crisis in 2009. The industry was able to cope from short term economic challenges, such as the bursting of the internet bubble in 2001, but the current crisis brought major problems- slacking production, sales, distribution and consumption.

Characterized by high competition, declining profit margins and intensive R&D efforts to offer smaller and faster products; the semiconductor and electronics industry globally is being driven by the rising demand for IT hardware, office automation products and consumer electronics products such as mobile phones and automotive products.

Poised to impact modern life with much more innovation; this industry is offering new possibilities in nano-sciences, biotechnology, medical sciences, electro-mechanical devices, photonics, remote sensing, etc. The semiconductor and electronics vertical captures the industry pulse with our high-level, strategically analyzed, full-length reports.

 This vertical offers businesses with an extensive pool of market data that serve as blueprints ranging from market sizes, revenue forecasts, value chain, market and product trends, price trends and regulations, competitive landscape, leading players, their key developments, strategy and profile. MarketsandMarkets offers a 360 degree in-depth analysis of the industry; allowing companies to access insights for strategizing, planning and execution.

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Biometric System Market with COVID-19 Impact Analysis by Authentication Type (Single Factor, Fingerprint, Iris, Face, Voice; Multi-factor), Type (Contact-based, Contactless, Hybrid), Offering Type, Mobility, Vertical & Region - Global Forecast to 2027

The global biometric system market is expected to grow from USD 42.9 billion in 2022 to USD 82.9 billion by 2027, at a CAGR of 14.1%. Increasing the advancements in biometric technology across various sectors and rising demand for authentication and identification solutions as well as security and surveillance solutions in various application areas are the primary factors driving the market growth. Moreover, growing adoption of biometric system in consumer electronics, BFSI as well as automotive verticals will drive the demand for this technology in the near future.

Covid Impact of COVID-19 on Market

COVID-19 has led companies to mobilize quickly and make both short-term and long-term adjustments in their business models as far as the sales and distribution capabilities of their product offerings are concerned. Global supply chains were disrupted as the virus spread across the globe bringing uncertainly over quarantine duration, affecting product sales. The pandemic also accelerated the adoption of digital services across all industries.

COVID-19 had an uncertain impact on the standard way of living of the global population. The soaring need to diminish the widespread of this virus as it may be transmitted through touching objects has led to the demand for contactless biometric systems. Fingerprint and palm-print recognition systems have witnessed a downfall during this period. However, they were replaced by contact-less systems such as the face, IRIS, and voice biometrics as the end customers do not intend to risk the security issues. Various biometric systems are affected to different degrees in terms of security vulnerabilities. The coronavirus pandemic is here to stay and the fact that these contactless technologies can track the user’s identity more efficiently offers lucrative opportunities for the market during the forecast period

However, with ease in lockdown in countries such as China, India, the US, and Germany, and vaccines being rolled out by numerous countries since December 2020, the manufacturing sector is expected to pick up the pace gradually in the coming months, and the biometric system market is expected to recover by mid 2022.

Smart Sensors Market with Covid-19 impact by Type (Temperature & Humidity Sensors, Pressure Sensor, Touch Sensor, Motion & Occupancy Sensors, Water Sensor, Image Sensor), Technology, End-user Industry and Region - Global Forecast to 2027

The global smart sensors market is expected to grow from USD 45.8 billion in 2022 to USD 104.5 billion by 2027; it is expected to grow at a CAGR of 17.9% during 2022–2027. Key factors fueling this market's growth include surging demand for smart sensors in IoT-based devices and consumer electronics; increasing use of smart sensors in revolutionizing industries; high demand for smart sensors by automobile manufacturers to deliver enhanced safety and comfort; and accelerating use of wireless technology to monitor and control security devices equipped with smart sensors. Surge in demand for smart sensor-enabled wearable devices; ongoing support by governments across the world to promote construction of green buildings; and predictive maintenance to offer lucrative opportunities to market players create a strong demand for smart sensors for efficient industrial operations in the midst of COVID-19. 

COVID-19 Impact on the Market

The smart sensors market has witnessed unprecedented growth during the past decade on account of the growing popularity of industry 4.0 and IIoT. However, COVID-19 has dealt a severe blow to the industry, leading to a simultaneous collapse of supply and demand. The market is expected to regain its growth momentum once end-user industries start recovering from the effects of this pandemic.

As a result of the COVID-19 outbreak, businesses worldwide have been impacted with revenue losses and disrupted supply chains as factory shutdowns and quarantine measures have been implemented worldwide in 2020 and the first half of 2021. To provide a perspective on various scenarios, several factors that would influence the economic recovery from the pandemic-induced global recession for the smart sensors market have been assessed.

Flat Panel Antenna Market with Covid–19 Impact by Type (Electronically Steered, Mechanically Steered), Frequency (C and X, Ku, K, Ka), End–Use Application (Aviation, Telecommunications, Military) and Region - Global Forecast to 2027

The global flat panel antenna market is expected to grow from USD 408 million in 2022 to USD 1,440 million by 2027, at a CAGR of 28.7%.

Growing investments in space exploration and satellite launches, rising demand for electronically steered antennas worldwide, rising demand for innovative and compact antenna systems, and growing adoption of low cost, low profile antennas in various commercial and military applications will drive the demand for this market in the near future. The deployment of low earth orbit (LEO) satellites and constellations of satellites for communication applications has increased their demand across the globe. Other factors driving the market growth include growing demand for Ku- and Ka-band satellites, and the growing fleet of autonomous and connected vehicles used for various applications in the military and commercial sectors, which require customized flat panel antennas.

COVID-19 Impact on the Market

COVID-19 had a significant impact on the flat panel antenna market due to the severe impact on the manufacturing sector in different regions due to the pandemic lockdown. Abruptions in manufacturing, production, and demand and supply in antenna components due to the sudden lockdown in 2020 has impacted the market of flat panel antennas. The COVID-19 pandemic has caused significant damage to the economic activities of countries across the world. The manufacturing of antenna equipment, including systems, subsystems, and components, has also been impacted. Although antenna equipment are critically important for a proper outcome from a satellite, disruptions in the supply chain have halted their manufacturing processes for the time being. Resuming manufacturing activities depends on the level of COVID-19 exposure, the level at which manufacturing operations are running, and import-export regulations, among other factors. While companies may still be taking in orders, delivery schedules may not be fixed. However, with ease in lockdown in countries such as China, India, the US, and Germany, and vaccines being rolled out by numerous countries since December 2020, the manufacturing sector is expected to pick up the pace gradually in the coming months, and the flat panel antenna market is expected to recover by mid 2022.

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