The global semiconductor market is projected to grow at a CAGR of around 6 percent during 2011–2014, after sales of global semiconductors surged by around 32 percent in 2010, according to a new research report by RNCOS.

The “Semiconductor Industry Forecast to 2012” report shows the semiconductor market has been gaining popularity among industrial sectors including automotive, aircraft, telecommunication, and wireless devices. Growth is attributed to increased international investment in response to a rapid rise in consumer demand from various geographical locations. Increased industrial productions and reviving consumer confidence further led to an increase in demand of semiconductor-related products and devices across the world, RNCOS says.

Research findings show integrated circuit (IC) is the most promising segment of the semiconductor industry. ICs remain the most dominant segment of the industry, accounting for around 84 percent of the total revenue in 2010 followed by optoelectronics, discrete, and sensors. ICs are utilized in almost all electronic equipments.

RNCOS projects that future growth will be driven by sensors followed by discrete, ICs, and optoelectronics growing at a projected CAGR at around 13.5 percent, 8.5 percent, 6 percent, and 4 percent, respectively for 2011–2014.

At the regional level, the report projects that Asia-Pacific will continue to dominate the semiconductor market going forward, fueled by demand from India and China.

The report features forecasts for various semiconductor segments including ICs, discrete semiconductors, optoelectronics, sensors, wafer processing equipment, assembly and packaging equipment, testing equipment, wafer fabrication materials, and packaging material.

For further information on the “Semiconductor Industry Forecast to 2012” report, click here.