Integrated Circuits - Hong Kong | Statista Market Forecast

Revenue in the Integrated Circuits market is projected to reach US$54.04bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.88%, resulting in a market volume of US$86.57bn by 2029.
In global comparison, most revenue will be generated China (US$148.10bn in 2024).

Definition:

Integrated circuits (ICs) are semiconductors that are fabricated using several interconnected devices. These devices are cost-effective and efficient when compared to the number of discrete devices used to achieve the same functionality.

Structure:

The Integrated Circuits market is divided into four markets depending on their application:

The Analog Integrated Circuits market includes ICs that are used to process analog signals.
The Logic Integrated Circuits market includes ICs that are used for digital logic functions.
The Memory Integrated Circuits market includes ICs that are intended for memory functions.
The last market Micro Integrated Circuits includes microprocessors, microcontrollers, and digital signal processors that are intended for performing dedicated functions as per the instructions.

Additional Information:

The Integrated Circuits market comprises revenue and revenue change as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Further definitions of markets can be found on respective pages.

Key players in this market include Intel, Analog Devices, SK Hynix, Qualcomm, Nvidia, etc.,

For more information on the displayed data, use the info button right next to the boxes.

General-purpose and application-specific analog ICs
Digital Bipolar logic ICs
MOS logic devices
Microprocessors, Microcontrollers, Digital signal processors
MOS memory devices

Discrete device modules
Board level modules

The Integrated Circuits market in Hong Kong is experiencing significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in Hong Kong have a strong preference for electronic devices, which drives the demand for Integrated Circuits. Hong Kong is known for its tech-savvy population that embraces the latest gadgets and technologies. As a result, there is a high demand for Integrated Circuits in various industries, including consumer electronics, telecommunications, and automotive.

Trends in the market: One of the key trends in the Integrated Circuits market in Hong Kong is the increasing demand for advanced and miniaturized chips. With the rise of Internet of Things (IoT) devices and wearable technology, there is a need for smaller and more efficient Integrated Circuits. Manufacturers are constantly developing new chip designs to meet these demands and stay competitive in the market. Another trend in the market is the growing focus on energy efficiency. Hong Kong, like many other regions, is becoming increasingly aware of the environmental impact of electronic devices. As a result, there is a demand for Integrated Circuits that consume less power and contribute to energy savings. Manufacturers are investing in research and development to create more energy-efficient chips to cater to this demand.

Local special circumstances: Hong Kong's strategic location as a global trade hub and its well-developed infrastructure make it an attractive market for Integrated Circuits. The city serves as a gateway to the Chinese market and has a strong presence of multinational companies. This creates opportunities for manufacturers to establish partnerships and expand their market reach. Furthermore, Hong Kong has a highly skilled workforce and a strong education system in the field of technology. This ensures a steady supply of talent for the Integrated Circuits industry, driving innovation and growth.

Underlying macroeconomic factors: Hong Kong's strong economy and stable political environment contribute to the growth of the Integrated Circuits market. The city has a high per capita income and a large middle class, which drives consumer spending on electronic devices. Additionally, Hong Kong's proximity to China and its participation in regional trade agreements make it an attractive destination for foreign investment in the Integrated Circuits industry. In conclusion, the Integrated Circuits market in Hong Kong is experiencing significant growth due to customer preferences for electronic devices, trends in the market such as miniaturization and energy efficiency, local special circumstances such as its strategic location and skilled workforce, and underlying macroeconomic factors including a strong economy and stable political environment. This growth is expected to continue as the demand for advanced technology and electronic devices increases in Hong Kong and the surrounding region.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the money spent at the manufacturer price level (excluding VAT).

Modeling approach / Market size:

Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use the annual financial reports of the market-leading companies and reports from our primary research. In addition, we use relevant key market indicators and data from country-specific associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Governments and companies across the entire semiconductor value chain have had to navigate changing demands, supply chain imbalances, and geopolitical factors in recent times. As a result, action plans and policies have had to be established to safeguard the supply of semiconductors. In 2024, global semiconductor sales surpassed 600 billion U.S. dollars, a jump from the previous year as the industry reaps the rewards from the artificial intelligence (AI) revolution sweeping across the world.