The world market for semiconductor microchips totaled $ 440.4 billion in 2020, a growth of 6.9% year-on-year, NXP Semiconductors reported.

According to this company, advances in semiconductor technology have increased the functionality and performance of semiconductors, improving their characteristics and power consumption, while reducing their size and cost.

These advancements have resulted in the growth of microchips and electronic content in a wide range of products.

NXP Semiconductors is a global semiconductor company and long-standing supplier to the industry, with more than 50 years of operational and innovation history.

For the year ended December 31, 2020, NXP Semiconductors generated revenue of $ 8.612 million, compared to $ 8.877 million for the year ended December 31, 2019.

Microchips

NXP Semiconductors competes with many different semiconductor companies, including multinational companies with integrated research and development, manufacturing, sales and marketing organizations across a broad spectrum of product lines, “factory-less” semiconductor companies, and companies that focus on a single standard product or application market segment.

The company’s key competitors in alphabetical order include Analog Devices, Infineon Technologies, Maxim Integrated Products, Mediatek, Microchip Technology, Nordic Semiconductor, Power Integrations, Qorvo, Qualcomm, Renesas Electronics Corp, Silicon Laboratories, STMicroelectronics, and Texas Instruments Incorporated.

Broadly speaking, the basis on which these companies compete varies according to end markets and geographic regions.

This includes competing on the basis of your ability to timely develop new products and the underlying intellectual property and to meet customer requirements in terms of cost, product features, quality, warranty, and availability.

Additionally, your systems solutions businesses require in-depth knowledge of a given application market to develop robust systems solutions and qualified customer support resources.