Semiconductors - Belgium

Belgium

Revenue in the Semiconductors market is projected to reach US$2.24bn in 2024.
Integrated Circuits dominates the market with a projected market volume of US$1.87bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 9.34%, resulting in a market volume of US$3.50bn 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

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Currency

Analyst Opinion

The Semiconductors market in Belgium has been experiencing steady growth in recent years, driven by customer preferences for advanced technology and increasing demand for electronic devices.

Customer preferences: Customers in Belgium have a strong preference for high-quality and technologically advanced products. They are willing to pay a premium for semiconductors that offer superior performance and reliability. This has led to a growing demand for semiconductors with advanced features such as higher processing speeds, increased memory capacity, and improved energy efficiency.

Trends in the market: One of the key trends in the Semiconductors market in Belgium is the increasing adoption of Internet of Things (IoT) devices. IoT devices require semiconductors to connect and communicate with each other, which has created a significant demand for semiconductors in various industries including healthcare, manufacturing, and transportation. The growing popularity of smart homes and wearable devices has also contributed to the increased demand for semiconductors in Belgium. Another trend in the market is the rising demand for semiconductors in the automotive industry. With the increasing focus on electric vehicles and autonomous driving, the need for advanced semiconductors has grown significantly. Semiconductors are used in various automotive applications such as advanced driver-assistance systems (ADAS), infotainment systems, and powertrain control units. This trend is expected to continue as the automotive industry in Belgium and worldwide continues to innovate and develop new technologies.

Local special circumstances: Belgium is home to several major semiconductor companies and research institutions. The country has a strong presence in the semiconductor industry, with companies specializing in various segments such as microprocessors, memory chips, and sensors. This has created a favorable environment for the growth of the Semiconductors market in Belgium, as it benefits from the expertise and innovation of these local players.

Underlying macroeconomic factors: The growth of the Semiconductors market in Belgium is also influenced by macroeconomic factors such as GDP growth, consumer spending, and business investment. A strong and stable economy provides a favorable environment for businesses to invest in new technologies and products, including semiconductors. Belgium has a relatively stable and developed economy, which has supported the growth of the Semiconductors market in the country. In conclusion, the Semiconductors market in Belgium is experiencing steady growth due to customer preferences for advanced technology, increasing demand for electronic devices, and the country's strong presence in the semiconductor industry. The adoption of IoT devices and the demand for semiconductors in the automotive industry are key trends driving the market. The favorable macroeconomic environment in Belgium also contributes to the growth of the market.

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.