Semiconductors - Northern Europe

Northern Europe

Revenue in the Semiconductors market is projected to reach US$2.37bn in 2024.
Integrated Circuits dominates the market with a projected market volume of US$1.87bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.73%, resulting in a market volume of US$3.77bn 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

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Analyst Opinion

The Semiconductors market in Northern Europe is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trend. Customer preferences in Northern Europe are driving the growth of the Semiconductors market. Consumers in this region have a strong demand for high-quality electronic devices and gadgets. They are willing to invest in advanced technology and are constantly seeking innovative and cutting-edge products. This preference for advanced technology is fueling the demand for semiconductors, which are essential components in electronic devices. Trends in the market are also playing a crucial role in the growth of the Semiconductors market in Northern Europe. One major trend is the increasing adoption of Internet of Things (IoT) devices. IoT devices rely heavily on semiconductors to enable connectivity and data processing. As the IoT market continues to expand, the demand for semiconductors is expected to rise significantly. Another trend in the market is the growing focus on renewable energy sources. Northern European countries are investing heavily in renewable energy, such as wind and solar power. Semiconductors are essential components in renewable energy systems, as they are used in power electronics and control systems. The shift towards renewable energy is driving the demand for semiconductors in this region. Local special circumstances in Northern Europe are also contributing to the growth of the Semiconductors market. One such circumstance is the presence of a highly skilled workforce in the region. Northern European countries have a strong education system and a high level of technological expertise. This skilled workforce is driving innovation and research in the semiconductor industry, leading to the development of new products and technologies. Underlying macroeconomic factors are also playing a role in the growth of the Semiconductors market in Northern Europe. The region has a stable and prosperous economy, which provides a favorable business environment for semiconductor manufacturers. Additionally, government support and incentives for research and development in the semiconductor industry are further driving its growth. In conclusion, the Semiconductors market in Northern Europe is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for high-quality electronic devices, the increasing adoption of IoT devices, the focus on renewable energy, the presence of a skilled workforce, and the stable economy are all contributing to this positive trend.

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.