Semiconductors - Western Asia

Western Asia

Revenue in the Semiconductors market is projected to reach US$1.33bn in 2024.
Integrated Circuits dominates the market with a projected market volume of US$0.69bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.83%, resulting in a market volume of US$2.03bn 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 Western Asia is experiencing significant growth and development due to various factors. Customer preferences in the Semiconductors market in Western Asia are driven by the increasing demand for advanced technology and digital transformation. Customers in this region are increasingly adopting smart devices, such as smartphones, tablets, and wearables, which require semiconductors for their functionality. Additionally, the growing popularity of artificial intelligence (AI), internet of things (IoT), and cloud computing is driving the demand for high-performance semiconductors. Customers are also seeking energy-efficient and environmentally friendly semiconductors to meet sustainability goals. Trends in the market indicate a shift towards the development and production of more advanced semiconductors in Western Asia. This region is investing heavily in research and development to enhance its semiconductor manufacturing capabilities. There is a focus on developing cutting-edge technologies, such as 5G, autonomous vehicles, and smart cities, which require advanced semiconductors. Western Asian countries are also attracting foreign investments and partnerships to strengthen their semiconductor industry and increase their global competitiveness. Local special circumstances in Western Asia, such as favorable government policies and incentives, are contributing to the growth of the Semiconductors market. Governments in this region are implementing policies to encourage domestic semiconductor production and reduce dependence on imports. They are providing financial support, tax incentives, and infrastructure development to attract semiconductor companies and promote local manufacturing. Additionally, Western Asian countries have a skilled workforce and strong engineering capabilities, which are advantageous for semiconductor production. Underlying macroeconomic factors, such as population growth, urbanization, and rising disposable incomes, are driving the demand for semiconductors in Western Asia. The region has a young and tech-savvy population that is increasingly adopting digital technologies and consumer electronics. The growing middle class and expanding urban areas are creating a larger market for semiconductors. Furthermore, Western Asian countries are investing in infrastructure development and industrialization, which is fueling the demand for semiconductors in sectors such as telecommunications, automotive, and healthcare. In conclusion, the Semiconductors market in Western Asia is developing rapidly due to customer preferences for advanced technology, the trend towards more advanced semiconductors, local special circumstances such as government support, and underlying macroeconomic factors such as population growth and urbanization. This market is expected to continue growing as Western Asian countries invest in research and development, attract foreign investments, and meet the increasing demand for semiconductors in various sectors.

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.