Market Insights Technology Semiconductors

Integrated Circuits - Sweden

Sweden

Revenue in the Integrated Circuits market is projected to reach €551.90m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 10.59%, resulting in a market volume of €913.00m by 2029.
In global comparison, most revenue will be generated in China (€137.30bn in 2024).

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Analyst Opinion

The Integrated Circuits market in Sweden has been experiencing significant growth in recent years.

Customer preferences: Customers in Sweden have shown a strong preference for high-quality and reliable integrated circuits. They prioritize products that offer advanced features and superior performance. Additionally, customers in Sweden are increasingly concerned about the environmental impact of electronic devices, leading to a growing demand for energy-efficient integrated circuits.

Trends in the market: One of the key trends in the Integrated Circuits market in Sweden is the increasing adoption of Internet of Things (IoT) devices. The country has been at the forefront of IoT development, with a high number of connected devices per capita. This trend has created a strong demand for integrated circuits that can support the connectivity and processing requirements of IoT devices. Another trend in the market is the growing demand for integrated circuits in the automotive sector. Sweden is known for its strong automotive industry, with companies such as Volvo and Scania leading the way. As the automotive industry increasingly incorporates advanced technologies such as autonomous driving and electric vehicles, the demand for integrated circuits that can support these functionalities is expected to rise.

Local special circumstances: Sweden has a highly skilled workforce and a strong culture of innovation. The country is home to several leading semiconductor companies and research institutions, which contribute to the development of the Integrated Circuits market. The presence of these local players has created a competitive environment and has led to the development of cutting-edge technologies in the field of integrated circuits.

Underlying macroeconomic factors: Sweden has a stable and prosperous economy, which provides a favorable environment for the growth of the Integrated Circuits market. The country has a high level of disposable income, which allows consumers to invest in electronic devices that utilize integrated circuits. Additionally, the government in Sweden has been supportive of the technology sector, providing incentives and funding for research and development activities. These factors have contributed to the growth of the Integrated Circuits market in Sweden.

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.