Yahoo Finance ASEAN Semiconductor Market to Reach USD 41.88 Billion by 2028; Increasing Installation of Security Systems to Promote Growth: Fortune Business Insights™
List of the Companies Profiled in the Market : Intel Corporation (California, United States), Qualcomm (California, United States), Samsung Electronics (Suwon-si, South Korea), SK hynix (Gyeonggi, South Korea), Taiwan Semiconductors (Hsinchu, Taiwan), Texas Instruments (Texas, United States), Toshiba Corporation (Tokyo, Japan), Rohm Semiconductor(Kyoto, Japan), Renesas Electronics Corporation (Tokyo, Japan), Micron Technology (Idaho, United States), NVIDIA Corporation (California, United States), NXP Semiconductors N.V. (Eindhoven, the Netherlands)
Pune, India, Aug. 05, 2021 (GLOBE NEWSWIRE) -- The ASEAN semiconductor market size is expected to gain momentum by reaching USD 41.88 billion by 2028. This information is published by Fortune Business Insights in its report, titled “ASEAN Semiconductor Market, 2021-2028.”The report further mentions that the market stood at USD 26.91 billion in 2020 and is projected to exhibit a CAGR of 6.1% in the 2021-2028 period. The increasing utilization of semiconductors in various applications such as industrial use, data processing, automotive, networking, and many others is set to hike the demand for the product in the market. Manufacturers opt for high-quality and innovative semiconductors to increase their durability and deliver the best quality product. For example, NVIDIA Corporation employsa fabless productionpolicy by engaging best-in-class dealers for all phases of the productionmethod including, water fabricating, assembly line, ultimatechecking, and packaging. This is expected to bolster market growth during the foreseeable future.
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List of Key Players Covered in the Market:
Intel Corporation (California, United States)
Qualcomm (California, United States)
Samsung Electronics (Suwon-si, South Korea)
SK hynix (Gyeonggi, South Korea)
Taiwan Semiconductors (Hsinchu, Taiwan)
Texas Instruments (Texas, United States)
Toshiba Corporation (Tokyo, Japan)
Rohm Semiconductor(Kyoto, Japan)
Renesas Electronics Corporation (Tokyo, Japan)
Micron Technology (Idaho, United States)
NVIDIA Corporation (California, United States)
NXP Semiconductors N.V. (Eindhoven, the Netherlands)
Report Scope & Segmentation –
Report Coverage | Details |
Forecast Period | 2021-2028 |
Forecast Period 2021 to 2028 CAGR | 6.1 % |
2028 Value Projection | USD 41.88 Billion |
Base Year | 2020 |
Market Size in 2020 | USD 26.91 Billion |
Historical Data for | 2017-2019 |
No. of Pages | 120 |
Segments covered | Components; Application; Country |
Growth Drivers | Amalgamation of AI and Blockchain Technology to Promote Product Sales |
| Lack in Intellectual Property (IP) Protection Rights Obstructs Growth in Industr |
COVID-19 to Adversely Impact Market Growth Backed by Disrupted Supply Chain
Since the coronavirus pandemic was bestowed upon the world, the majority of the industries were seen suffering economically as the governments of several regions announced lockdowns to curb the spread. This resulted in a disturbed supply chain cycle and hence affected the trade relations between countries. Mostly, China is considered the chief global manufacturer of industrial constituents and produces. Yet, with the arrival of the pandemic, the trade activity observed a major halt and resultedin raw material scarcities for other economies. The collapse in China’s trading practices isanticipated to affect the regional value chain of Asian emerging nations directly.For instance, in 2017, over 35% of inputs to Vietnam’s industrialtrading commodities were reported to be obtained from China. Likewise, over 20% of contributions to India, Cambodia, Lao PDR, and Indonesia were tracked from China. Therefore, this pandemic situation is expected to hinder the ASEAN semiconductor market growth during the forecast period and amid the pandemic.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/asean-semiconductor-market-105570
Report Coverage
The report comprises amethodicalanalysis of the market segments and a detailed examination of the market. A deepassessment of the recent market trends and the upcoming opportunities is delivered in the report. It further reveals an exhaustive analysis of the regions and how they assist in the market’s growth. The COVID-19 impacts have been shared in the report to guidestakeholders and company owners to recognize the threats and keep them at bay. The report alsohighlightsthe prominent players and their principalpolicies to maintain their dominance in the market.
Segmentation
Based on the component, the marketis divided into memory devices, logic devices, analog IC, MPU, discrete power devices, MCU, and sensors.
On the basis of application, the market is further segregated into networking & communications, data processing, industrial consumer, electronics, automotive, and government. Among these, the networking and communications segment is projected to observe remarkable growth with increasing demand for consumer electronics during the COVID-19 pandemic. It held a market share of 33.0% as of 2020.
In terms of country, the market is segmented into Singapore, Malaysia, Indonesia, Thailand, and Vietnam.
Drivers and Restraints
Manufacturers Opt for Security Systems inside Chips to Boost Market Growth
Interconnected gadgets and networksupsurge the disclosure to safetythreats and hold a greater risk to device linked. Numeroustop companies are working towards joining their completesystems to deliverimproved experiences, facilities, and safety with their products. Involving extrasafety features inside a chip is a substantial effort taken by the chip producers to escalate thecost of the products. Currently,in the linked IoT market, appliances are obtainable at a lowerrate. Thereby these chips augment the value of the product. Hence, decreasing the price and demand of supplementary components.
Key players in the ASEAN semiconductor industry are coupling with establishments, supporting them in implanting security systems inside the chip. This is expected to impact the ASEAN market significantly as the IoT market inflates.
Country Insights
Among all the ASEAN countries, Vietnam has observed the utmost amplification across the sector with the maximum number of electronics producers involved in the technical expansion and cost-effectively achieving electronics export in the region in the past decade. Vietnam stood at USD 4.35 billion in 2020.
Competitive Landscape
Key Players to Expand Business Territories to Widen their Reach
Prominent players in the market for ASEAN semiconductors are constantly hunting down opportunities to make development in their respective domains. They are always looking to apply effective strategies to achieve ultimate supremacy over the global and regional markets. To complete this aim, they team up with their expert advisors, launch innovative products, sign partnership agreements, initiate acquisitions, and expand their territories to broaden their market reach. For instance, in March 2021, TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION announced its expansion of power appliance production volume by building a ‘300-millimeter water fabrication center’ Kaga Toshiba Electronics Corporation based in Japan. The bulk production of these devices is projected to begin in the first half of the 2023 financial year.
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Industry Development
March 2021: SK HYNIX INC. commenced the bulk production of 18 GB LPDDR5 Mobile DRAM to build an optimal atmosphere for gaming with high-resolution pictures and videos.
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