Semiconductors - Turkey

Turkey

Revenue in the Semiconductors market is projected to reach US$785.90m in 2024.
Integrated Circuits dominates the market with a projected market volume of US$285.60m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.68%, resulting in a market volume of US$1,086.00m 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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Currency

Analyst Opinion

The Semiconductors market in Turkey has been experiencing significant growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Semiconductors market in Turkey have played a crucial role in its development. Turkish consumers have shown a growing demand for advanced electronic devices and appliances, which require high-performance semiconductors. This has led to an increased need for semiconductors with higher processing power, improved energy efficiency, and enhanced connectivity features. Additionally, customers in Turkey have also shown a preference for semiconductors that are affordable and offer good value for money. The market trends in the Semiconductors industry in Turkey have also contributed to its growth. One of the key trends is the increasing adoption of Internet of Things (IoT) technology in various sectors, such as healthcare, manufacturing, and transportation. This has created a demand for semiconductors that can enable connectivity and data processing for IoT devices. Another trend is the rising popularity of artificial intelligence (AI) and machine learning (ML) technologies, which require powerful semiconductors for data processing and analysis. Additionally, the growing demand for electric vehicles in Turkey has also driven the need for semiconductors used in automotive applications. Local special circumstances have also played a role in the development of the Semiconductors market in Turkey. The country has a young and tech-savvy population, which has contributed to the high demand for electronic devices and appliances. Additionally, Turkey has a strong manufacturing base, particularly in the automotive and electronics sectors, which has created a favorable environment for the growth of the Semiconductors industry. Furthermore, the government has implemented supportive policies and incentives to attract foreign investment in the semiconductor sector, which has further fueled its development. Underlying macroeconomic factors have also influenced the growth of the Semiconductors market in Turkey. The country has experienced stable economic growth in recent years, which has increased consumer purchasing power and contributed to the demand for electronic devices. Additionally, Turkey has a young and growing population, which has created a large consumer base for semiconductors. Furthermore, the government has been investing in infrastructure development and digital transformation initiatives, which has created opportunities for the Semiconductors industry. In conclusion, the Semiconductors market in Turkey has been developing rapidly due to customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The increasing demand for advanced electronic devices, the adoption of IoT and AI technologies, and the government's supportive policies have all contributed to the growth of the market. With these factors in play, the Semiconductors market in Turkey is expected to continue its upward trajectory in the coming years.

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.