LONDON--(BUSINESS WIRE)--The semiconductor market in East Asia is expected to grow by USD 186.19 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The Japanese consumer electronics market is the third-largest consumer electronics market in the world. Major consumer electronics manufacturers in East Asia such as Toshiba, Panasonic, and Sony are involved in the manufacture of electronics such as printers, scanners, microwaves, refrigerators, washing machines, televisions, digital cameras, smartphones, and other home appliances. The growing adoption of automation in the consumer electronics segment has been encouraging the use of ICs on appliances such as smart ACs and smart TVs. These hi-tech kitchen appliances contain specialized semiconductors for added functionalities. Thus, the growth of consumer electronics market will boost the growth of the semiconductor market in East Asia during the forecast period.
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As per Technavio, the increase in number of chip fabrication (FABs) worldwide will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Semiconductor Market in East Asia: Increase in Number of Chip Fabrication (FABs) Worldwide
Industries such as consumer electronics, industrial, telecommunication, data centers, and automotive extensively use ICs for different purposes. For instance, ICs are used in high-density storage devices such as solid-state drives (SSDs) and automobiles for sensing and processing applications. Similarly, they are also used in Industry 4.0 and Internet of Things (IoT) applications and consumer electronics devices such as smartphones and wearables. Hardware devices such as FPGAs, ASICs, and GPUs incorporate machine learning and AI. These devices require semiconductor ICs. This will propel the high volume production or fabrication of semiconductor devices that involves the fabrication of circuit elements on IC chips. This is leading to the expansion of existing fabs and increased investments in the construction of new fabs. Thus, with the increasing number of chip fabrication (FABs) around the world, the semiconductor market in East Asia is expected to showcase a positive outlook during the forecast period.
“Developments in sensor technologies and communication devices and sustainable growth in global semiconductor industry are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Semiconductor Market in East Asia: Segmentation Analysis
This market research report segments the semiconductor Market In East Asia by end-users (memory, foundry and IDM), and geographic segmentation (China, Taiwan, Japan, South Korea (Republic of Korea), and rest of East Asia).
China led the semiconductor market in East Asia in 2019, followed by Taiwan, Japan, South Korea (Republic of Korea), and Rest of East Asia. During the forecast period, China is expected to register the highest incremental growth due high consumption of semiconductors by communication applications and data processing sectors in China.
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Some of the key topics covered in the report include:
- South Korea (Republic of Korea)
- Rest of Asia
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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