Semiconductors - Nordics

Nordics

Revenue in the Semiconductors market is projected to reach US$1.95bn in 2024.
Integrated Circuits dominates the market with a projected market volume of US$1.55bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.64%, resulting in a market volume of US$3.09bn by 2029.
In global comparison, most revenue will be generated in China (US$177.80bn in 2024).

Definition:

Semiconductors are the crucial building blocks of all the electronics we see daily. The semiconductor industry comprises companies that design, fabricate, assemble, test, and supply semiconductors that are suitable for various applications. The semiconductor market represents the market size of the semiconductors used in various electronics applications.

Structure:

The semiconductor market is structured into four different markets based on the functionality of the semiconductors as follows:

The Discrete Semiconductors market represents the semiconductors that have a basic function and are mostly built using a single semiconductor device. These are further used in an application in conjunction with other semiconductors.
The Integrated Circuits market is the largest market and represents the semiconductors that have specific functionality. They generally consist of several basic semiconductor devices. This market is further divided into Analog Integrated Circuits, Logic Integrated Circuits, Memory Integrated Circuits, and Micro Integrated Circuits.
The Optoelectronics market represents the semiconductors that have functionality related to light.
The last market Sensors & Actuators represents the semiconductors that sense real-world factors and those that actuate other devices.

Additional Information:

The semiconductor market comprises revenue, revenue change, and key player market shares 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 the markets can be found on respective pages.

Key players in this market include Samsung, Intel, SK Hynix, Qualcomm, Micron, etc.,

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Market

Region

Region comparison

Currency

Analyst Opinion

The Semiconductors market in Nordics has been experiencing significant growth in recent years.

Customer preferences: Customers in the Nordics have shown a strong preference for high-quality and innovative semiconductor products. They value reliability, efficiency, and performance, and are willing to pay a premium for products that meet their requirements. Additionally, there is a growing demand for semiconductors used in renewable energy technologies, such as solar panels and wind turbines, as the Nordics aim to transition to a more sustainable energy system.

Trends in the market: One of the key trends in the Semiconductors market in Nordics is the increasing adoption of Internet of Things (IoT) devices. The Nordics have been at the forefront of IoT development, with a high level of connectivity and digital infrastructure. This has created a demand for semiconductors that can support the connectivity and processing requirements of IoT devices. Additionally, there is a growing interest in artificial intelligence (AI) and machine learning (ML) technologies, which require advanced semiconductors for processing and data storage. Another trend in the market is the rise of autonomous vehicles. The Nordics have been actively investing in autonomous driving technologies, and this has created a demand for semiconductors used in sensors, processors, and communication systems for autonomous vehicles. The region's harsh weather conditions also pose unique challenges for autonomous vehicles, requiring robust and reliable semiconductors that can operate in extreme temperatures.

Local special circumstances: One of the special circumstances in the Nordics is the presence of a strong semiconductor ecosystem. The region is home to several semiconductor companies, research institutions, and startups, which contribute to the growth and innovation in the market. The close collaboration between industry and academia fosters the development of cutting-edge semiconductor technologies and attracts investments from both local and international players. Furthermore, the Nordics have a strong focus on sustainability and environmental responsibility. This has led to the development of energy-efficient semiconductor technologies, such as low-power processors and power management ICs. The demand for these environmentally-friendly solutions is driven by both regulatory requirements and consumer preferences for sustainable products.

Underlying macroeconomic factors: The Semiconductors market in Nordics is influenced by various macroeconomic factors. The region has a stable and prosperous economy, which provides a favorable business environment for semiconductor companies. Additionally, the Nordics have a highly skilled workforce and a strong tradition of engineering and innovation, which contributes to the development of advanced semiconductor technologies. Furthermore, the Nordics have a high level of digitalization and connectivity, which creates opportunities for the semiconductor market. The region's strong focus on research and development, as well as its supportive regulatory framework, encourages investments in semiconductor technologies. In conclusion, the Semiconductors market in Nordics is driven by customer preferences for high-quality and innovative products, as well as the increasing adoption of IoT and AI technologies. The presence of a strong semiconductor ecosystem and the focus on sustainability contribute to the growth and development of the market. The stable macroeconomic factors and the region's digital infrastructure further support the expansion of the semiconductor industry in the Nordics.

Methodology

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.