Semiconductors - Serbia

Serbia

Revenue in the Semiconductors market is projected to reach US$99.19m in 2024.
Integrated Circuits dominates the market with a projected market volume of US$59.49m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.79%, resulting in a market volume of US$165.60m 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 Serbia has been experiencing significant growth in recent years.

Customer preferences: Customers in Serbia have shown a strong preference for advanced and high-quality semiconductor products. They value reliability, performance, and energy efficiency in their electronic devices. As a result, there is a growing demand for semiconductors that can support the latest technologies, such as artificial intelligence, Internet of Things, and autonomous vehicles. Customers also prioritize affordability, as they seek to maximize the value of their purchases.

Trends in the market: One of the key trends in the Semiconductors market in Serbia is the increasing adoption of digitalization across various sectors. This has led to a greater need for semiconductors to power and enable digital transformation initiatives. Industries such as automotive, telecommunications, healthcare, and manufacturing are increasingly relying on semiconductors to enhance their operations and improve efficiency. Additionally, the rising popularity of smart devices and the growing demand for connectivity have further fueled the demand for semiconductors in Serbia. Another trend in the market is the focus on research and development (R&D) activities. Domestic companies and government institutions are investing in R&D to develop and innovate semiconductor technologies. This is aimed at reducing dependence on imports and fostering the growth of the domestic semiconductor industry. The government has also been actively supporting R&D initiatives through various incentives and grants, which has further encouraged local companies to invest in semiconductor development.

Local special circumstances: Serbia benefits from its strategic location in Southeast Europe, which provides it with access to a large and diverse market. The country has established itself as an attractive destination for foreign direct investment, particularly in the manufacturing sector. This has led to the establishment of semiconductor manufacturing facilities by multinational companies in Serbia, which has contributed to the growth of the local semiconductor market. The presence of these companies has also facilitated technology transfer and knowledge sharing, which has helped to boost the capabilities of the domestic semiconductor industry.

Underlying macroeconomic factors: The growth of the Semiconductors market in Serbia can be attributed to several underlying macroeconomic factors. The country has implemented economic reforms and created a favorable business environment, attracting foreign investors and promoting economic growth. The government has also focused on improving infrastructure, education, and innovation, which has created a conducive environment for the semiconductor industry to thrive. Additionally, Serbia benefits from its membership in the European Union, which provides it with access to a large market and trade opportunities. In conclusion, the Semiconductors market in Serbia is experiencing significant growth due to customer preferences for advanced and high-quality products, the increasing adoption of digitalization, and the focus on research and development. The country's strategic location, favorable business environment, and membership in the European Union have also contributed to the growth of the market.

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.