Latest News- Semiconductors Market in Vietnam: Consumer electronics is expected to lead the Application segment during 2024-2028
The Semiconductors Market in Vietnam is being driven by Sustainable growth in global semiconductor industry
The Semiconductors Market in Vietnam is expected to grow at a CAGR of 6.69% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.94 billion. The communication devices market in Vietnam has experienced a price decline due to increased adoption of communication services and the emergence of new players, enabling mass production through standardized capacity and throughput. This simplification of manufacturing processes has led to the development of affordable devices, fueling the growth of the Internet of Things (IoT) market. Vietnam, with its 61.3 million smartphone users, is a significant adopter of technology. The country's expanding urban and suburban populations, coupled with improving living standards and affordable high-quality devices, will further boost demand for communication devices.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Consumer electronics, Communications, Automotive, Medical devices, Others) End-user (Memory, Foundry, IDM) Device (PMICs, Microchips, RFID) Geography (APAC).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Semiconductors Market in Vietnam Research Report
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The Semiconductor Market in Vietnam is witnessing significant growth due to increasing demand for electronic devices, particularly smartphones, which utilize semiconductor materials such as conductors and insulators. Key semiconductor components include phototransistors, laser diodes, and light emitting diodes, fueling the Internet of Things (IoT) revolution. Technology products like artificial intelligence, 5G communication, virtual reality, Industry 4.0, self-driving cars, and 5G technology rely on chip companies and their innovative semiconductor solutions. Memory devices like random access memory, read-only memory, and logic devices are essential for computers and automation equipment. Extrinsic semiconductors, such as bipolar transistors and field effect transistors, play a crucial role in various applications, from data transfer to revolutionary technologies like AI and autonomous vehicles.
The semiconductors market in Vietnam is a significant segment of the global semiconductor market, encompassing manufacturers of integrated circuits (ICs), including memory, logic, analog, and micro components, optoelectronics, sensors, and discrete semiconductors. Technavio's market analysis calculates the global semiconductor market size based on the revenue generated from the shipment of semiconductor ICs to original equipment manufacturers (OEMs) and original design manufacturers (ODMs). These ICs originate from both fab and fabless companies, as well as integrated device manufacturers (IDMs). Key semiconductor materials and components include conductors, insulators, phototransistors, laser diodes, and light emitting diodes, which are integral to the production of electronic devices, such as smartphones.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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