Semiconductors - Vietnam

Vietnam

Revenue in the Semiconductors market is projected to reach US$18.23bn in 2024.
Integrated Circuits dominates the market with a projected market volume of US$15.40bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.48%, resulting in a market volume of US$31.39bn 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.,

For more information on the displayed data, use the info button right next to the boxes.

Market

Region

Region comparison

Currency

Analyst Opinion

The Semiconductors market in Vietnam is experiencing significant growth and development.

Customer preferences: Customers in Vietnam are increasingly demanding high-quality and technologically advanced semiconductors. They are looking for products that offer superior performance, energy efficiency, and reliability. Additionally, customers in Vietnam are also interested in semiconductors that are cost-effective and offer good value for money.

Trends in the market: One of the key trends in the Semiconductors market in Vietnam is the increasing demand for electronic devices and appliances. As the country's economy continues to grow, there is a rising middle class with higher disposable incomes. This has led to an increased demand for consumer electronics such as smartphones, tablets, and laptops. As a result, the demand for semiconductors used in these devices has also increased. Another trend in the market is the growing adoption of Internet of Things (IoT) technology in various industries. IoT technology relies on semiconductors to connect and communicate with different devices and systems. In Vietnam, industries such as manufacturing, agriculture, and healthcare are increasingly incorporating IoT technology to improve efficiency and productivity. This has led to a higher demand for semiconductors that support IoT connectivity.

Local special circumstances: Vietnam has emerged as a manufacturing hub for electronics and semiconductors. The country offers a favorable business environment, low labor costs, and a skilled workforce. Many multinational companies have set up manufacturing facilities in Vietnam to take advantage of these factors. This has resulted in an increase in the production and export of semiconductors from Vietnam. Additionally, the Vietnamese government has implemented policies to promote the development of the semiconductor industry. These policies include tax incentives, investment support, and the establishment of industrial zones dedicated to the electronics and semiconductor sectors. These initiatives have attracted both domestic and foreign investments in the industry, further driving its growth.

Underlying macroeconomic factors: Vietnam's strong economic growth and increasing consumer spending are key macroeconomic factors driving the development of the Semiconductors market. The country's GDP has been growing steadily, and its middle class is expanding. This has created a larger customer base for semiconductors and electronic devices. Furthermore, Vietnam's strategic location and trade agreements have made it an attractive destination for international companies looking to establish manufacturing operations. The country has signed free trade agreements with major economies such as the European Union, Japan, and South Korea. These agreements have facilitated the export of Vietnamese semiconductors to these markets, further boosting the industry's growth. In conclusion, the Semiconductors market in Vietnam is experiencing significant growth and development due to customer preferences for high-quality and technologically advanced products, the increasing demand for electronic devices and IoT technology, local special circumstances such as favorable business environment and government support, and underlying macroeconomic factors including strong economic growth and trade agreements.

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.