NEW YORK, Oct. 20, 2022 (GLOBE NEWSWIRE) — Kenneth Research has published an in-depth market report on “Global Semiconductor Timing IC market‘ for the forecast period, i.e. 2022 – 2031, which includes the following factors:

• Market growth over the forecast period
• Detailed regional summary
• market segmentation
• Growth drivers and challenges
• Profiling of key market players

Global Semiconductor Timing IC Market size:

It is estimated that the global semiconductor timing ICs market will generate revenue of USD 12 billion by the end of 2031 by growing at a CAGR of ~6% during the forecast period i.e. 2022-2031. Additionally, the market generated revenue of USD 7 billion in 2021. The growth of the market is mainly attributed to the increasing demand for electronic products. For example, it is estimated that user penetration will be close to 30% in 2022 and is expected to reach close to 37% in consumer electronics by 2025. In addition, since its inception in the 20th century, the electronics industry has provided equipment, devices and components to enable technological advances. Automation in industrial production and the Industrial Internet of Things (IIoT) are among the key trends in the electronics industry as today’s world becomes more and more tech savvy. Hence, the increasing usage and reliance on technology is expected to be another important factor driving the growth of the global market.

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Global Semiconductor Timing IC Market: The central theses

• The Asia-Pacific region is expected to generate the majority of sales by 2031
• The automotive sector segment dominates the sales chart
• The digital segment remains prominent in the written segment

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