Global Overview of the Hi-Tech Goods Industry

July 2021

This briefing examines how the hi-tech goods industry performs 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 in the region.

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Key Findings

Focus on semiconductor production rises

Countries are seeking to benefit from technological progress and are increasingly turning to production of the highest value-added items, such as electronic components. Countries’ governments, via direct subsidies, tax reliefs, infrastructure investment and other incentives, are trying to attract significant investment for component manufacturing.

Global competition Intensifies

Political tensions are rising around the world and the hi-tech goods industry is becoming one of the weapons. Large-scale Chinese government subsidies for the domestic semiconductor industry and Chinese companies’ global M&A strategies are particularly raising concerns for Western countries, which must answer with similar programmes.

Asia Pacific grows its influence

Asia Pacific is further strengthening its position in the global hi-tech goods industry. By 2025, three quarters of hi-tech goods turnover will be generated in the region. China’s investment in semiconductor manufacturing, giving competition to Western companies, is set to be the primary driver of the growing regional dominance of Asia Pacific.

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 systems, renewable energy, automation and digitisation are becoming the main focus points of investors’ attention, due to exponential growth possibilities.

Scope
Examining four trends shaping the hi-tech goods industry
COVID-19: impact on hi-tech goods
Hi-tech goods, seeing a limited effect from COVID-19, will show recovery in 2021
Production value set to return to growth, yet new challenges are emerging
Production further concentrated in Asia Pacific, with China leading the pack
Profits remain, despite global lockdown leading to temporary factory closures
Exports growth faces turbulence over COVID-19 outbreak
Recovering production to drive imports rebound post-pandemic
The fastest growth hi-tech goods markets to be driven by expanding local production
Electronic component producers climb to the top
Number of companies falls due to rising concentration in China and India
Industry concentration remains stable
China will continue to dominate production value growth
Most key producing countries will reach pre-pandemic turnover in 2021-2022
Key future trends shaping the global industry
China: low COVID-19 impact keeps turnover on the growth path
China’s shift to semiconductor business offers new growth possibilities
USA : the industry’s reorganisation to become an essential driver
US hi-tech companies embrace the transition to new business segments
Japan : on the path to reinventing the industry
New segments become the core focus area for Japanese tech giants
South Korea: component production focus to steer the industry out of recession
Component production to drive industry’s rebound
Taiwan: surging global demand for chips helps to avoid the industry’s downfall
Innovative segments to provide boost for revenue, but low diversification is a concern
Germany : large dependence on automakers harms the industry in 2020
New opportunities await German hi-tech goods companies
Thailand: limited diversification result s in slumping revenue in 2020
New economic bloc offers better access to regional resources
Philippines: large foreign markets focus to boost recovery
The industry seeks stabilisation post-pandemic, yet changing legal system scares investors
India: continuing government efforts to boost hi-tech production
Government efforts are set to remain essential for the industry’s development
Malaysia: in high demand for investment in future growth
COVID-19 affects industry’s performance, but swift recovery expected
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