Semiconductors - Norway

Norway

Revenue in the Semiconductors market is projected to reach US$181.90m in 2024.
Integrated Circuits dominates the market with a projected market volume of US$144.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.23%, resulting in a market volume of US$282.80m 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 Norway has been witnessing steady growth over the past few years.

Customer preferences: Customers in Norway have shown a strong preference for high-quality and reliable semiconductors. They prioritize products that offer advanced features and are compatible with the latest technologies. Additionally, there is a growing demand for energy-efficient semiconductors, as sustainability is a key concern for Norwegian consumers.

Trends in the market: One of the major trends in the Semiconductors market in Norway is the increasing adoption of Internet of Things (IoT) devices. As more industries and households in Norway embrace smart technologies, the demand for semiconductors used in IoT devices is expected to rise. This trend is driven by the need for connectivity and automation in various sectors, including healthcare, transportation, and manufacturing. Another significant trend is the growing demand for semiconductors used in renewable energy systems. Norway has been actively investing in renewable energy sources, such as wind and solar power. As a result, there is a rising need for semiconductors that can efficiently convert and manage energy in these systems. This trend is expected to continue as the country aims to achieve its renewable energy targets.

Local special circumstances: Norway's geographical location and climate pose unique challenges for the Semiconductors market. The country experiences long winters with low temperatures, which can affect the performance of electronic devices. Therefore, there is a need for semiconductors that can withstand extreme weather conditions and function reliably in cold environments. This requirement has led to the development of specialized semiconductors tailored to the Norwegian market.

Underlying macroeconomic factors: Norway's strong economy and high disposable income levels contribute to the growth of the Semiconductors market. The country has a well-established technology sector and is home to several semiconductor companies. Additionally, Norway has a robust research and development ecosystem, which encourages innovation in the semiconductor industry. These factors create a favorable environment for the growth of the market. Furthermore, the government's focus on digitalization and technological advancements also drives the demand for semiconductors in Norway. The government has implemented various initiatives to promote the adoption of digital technologies across sectors, including education, healthcare, and transportation. This digital transformation requires the use of semiconductors to power and enable these technologies. In conclusion, the Semiconductors market in Norway is experiencing growth due to customer preferences for high-quality and energy-efficient products. The increasing adoption of IoT devices and renewable energy systems further drives the demand for semiconductors. The country's unique climate and strong economy, coupled with government support for digitalization, create a favorable environment for the market's development.

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.