Vietnam Semiconductor Market Expands at CAGR of 6.7% to Reach USD 8.6 Billion by 2030

Published | 15 October 2024

Vietnam Semiconductor Market is flourishing because of the government’s increasing support to promote the semiconductor industry in the country and a growing demand for electronic devices.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam Semiconductor Market size at USD 5.58 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Vietnam Semiconductor Market size to expand at a CAGR of 6.70% reaching a value of USD 8.59 billion by 2030. The increasing usage of digitally integrated circuits (ICs) in a variety of applications, such as electronics, automotive, electrical, and telecommunications, is one of the primary growth factors for Vietnam Semiconductor Market. Furthermore, the Vietnam Semiconductor Market is expected to benefit greatly from the expansion of advanced technologies, including machine learning, artificial intelligence (AI), and the Internet of Things (IoT).

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Opportunity - IT & Telecommunications Hold Major Market Share

Semiconductors witness a high demand across various sectors, including IT & telecommunications, defense & military, industrial applications, consumer electronics, and automotive. Among these, the IT & telecommunications segment dominates Vietnam Semiconductor Market. Semiconductors are used in manufacturing various communication devices, including smartphones, network routers, and satellites. Semiconductors are also prominently used in data centers to capture, encode, decode, and present data. The expanding data center market and the growing use of semiconductors in data centers are also propelling its market growth in Vietnam.

Impact of Escalating Geopolitical Tensions on Vietnam Semiconductor Market

Escalating geopolitical tensions could negatively impact the growth of Vietnam Semiconductor Market. Vietnam's semiconductor production is dependent on the import of the necessary parts. Elevated geopolitical tensions, however, cause disruptions in the global supply chain, making it more difficult to get the components and raw materials needed to produce semiconductors, which in turn causes a scarcity and price increase. Due to its small size and lack of resources, Vietnam may see fierce competition in the semiconductor manufacturing sector from nations like India, which might further impede its market expansion. However, Vietnam may draw investment from businesses looking for China alternatives as nations reevaluate their investments in reaction to geopolitical threats. Uncertainty, nevertheless, can potentially discourage certain investors.

Silicon Material Type to Grow at Fastest CAGR

Silicon holds the largest market share of Vietnam Semiconductor Market, owing to its abundant availability. It is the second most abundant element on earth, following oxygen. Furthermore, the efficiency and economical nature of the extraction, purification, and crystallization processes of silicon also contribute to the growth of silicon segment. Meanwhile, gallium arsenide also covers a substantial market share owing to its quick response to electric signals, which makes it a suitable material for manufacturing devices such as microwave-frequency integrated circuits.

Competitive Landscape

Vietnam Semiconductor Market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Fuji Electric Co. Ltd, Hitachi Ltd, Infineon Technologies AG, Intel Corp., Microchip Technology, NXP Semiconductors, Qualcomm, Samsung, STMicroelectronics, and Texas Instruments.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in Vietnam Semiconductor Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Vietnam Semiconductor Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Semiconductor Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Scope of the Report

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