Global Overview of the Hi-Tech Goods Industry

November 2022

This briefing examines how the hi-tech goods industry is performing globally and in the largest countries in terms of hi-tech goods output. The report also provides data for production, market size, imports, exports, industry costs, industry profitability and number of companies. The industry and market overview provide benchmarks against other countries globally.

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Key Findings

Emerging segments reshuffle the global landscape

Transformations in the technology field remain the core disruptors in the global competitive landscape. New technologies in fields such as IoT, AI, robotics, electric vehicles, battery, 3D printing, renewable energy and automation are set to remain the focus points of investors’ attention, due to substantial growth potential.

Focus on semiconductor production rises

In a period when consumer products will again see limited growth, global tech companies are increasingly turning to production of the most innovative and highest value-added products, such as electronic components. Governments, via direct subsidies, tax reliefs and infrastructure spending, are also trying to attract significant investment for component manufacturing around the world.

Asia Pacific dominates

Asia Pacific is further strengthening its position in the global hi-tech goods industry. By 2026, over three quarters of hi-tech goods turnover will be generated in the region. China’s investment in semiconductor manufacturing is set to be the primary driver of Asia Pacific’s growing dominance, coupled with lower value assembly functions being transferred to other Asian countries.

Global competition Intensifies

Political tensions are rising around the world, and the hi-tech goods industry finds itself in the middle of the battle. China’s large-scale government subsidies for the domestic semiconductor industry, speedy innovation adoption and Chinese companies’ global M&A strategies are raising concerns in Western countries, which are determined to respond with protective measures.

Scope
Examining four trends shaping the motor vehicles and parts industry
Key trends impacting the industry in 2022
Strong global electronics demand helps hi-tech goods see limited effects from COVID-19
Production value set to stabilise over the medium term
China continues dominating the global industry
Profits rise, thanks to strong rebound after the pandemic
Exports rebound after turbulence over COVID-19 outbreak
Recovering production set to strengthen global imports values
The fastest growth hi-tech goods markets to be driven by expanding local production
Rising prices harm hi-tech goods supply chains
Inflationary pressures to remain high over the short term
Electronic component producers climb to the top
Number of companies stabilises due to increasing competition in China and India
Industry concentration remains stable
China will continue to dominate production value growth
K ey producing countries have reached pre-pandemic turnover
Key future trends shaping the global industry
China: New investment in semiconductors reshapes the industry
China’s shift to semiconductor business offers new growth possibilities
US: I ndustry reorganisation needed as a catalyst for growth
US hi-tech companies embrace the transition to new business segments
South Korea: Component production focus to steer the industry out of recession
Component production to drive industry’s rebound
Japan: On the path to reinventing the industry
New segments become the core focus area for Japanese tech giants
Taiwan: Surging global demand for chips helps to keep growth stable
Innovative segments to provide boost for revenue, but lack of diversification is a concern
Germany: Industry rebounds together with recovering B2B demand
New opportunities await German hi-tech goods companies
Singapore: Investment to drive turnover expansion
Economic issues in key exports markets expected to hinder growth
India: Continuing government efforts to boost hi-tech production
Government efforts are set to remain essential for the industry’s development
Philippines: On the verge of transformation
The industry seeks stabilisation post-pandemic, but changing legal system deters investors
Malaysia: In high demand for investment in future growth
New investment in high value-added production needed
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