South Korea Semiconductor Device Market Insights Forecasts to 2033

• The Market Size is Growing at a CAGR of 7.4% from 2023 to 2033
• The South Korea Semiconductor Device Market Size is Expected to Hold a Significant Share by 2033

The South Korea Semiconductor Device Market Size is Anticipated to Hold a Significant Share by 2033, Growing at a CAGR of 7.4% from 2023 to 2033.

Market Overview

Semiconductors are materials whose electrical conductivity is intermediate between that of conductors and insulators. They are of great importance because they make possible the functioning of transistors, diodes, and integrated circuits; that is to say, almost all devices- computers, smartphones, and so on are constructed around them. In short, it is this technology that makes it possible to miniaturize electronic elements, with greater compactness, portability, and concomitantly, processing capacity. In power electronics, semiconductors play important roles in converting and processing electrical energy, minimizing energy loss at the same time. In addition, their applications can be realized in optoelectronic devices such as photodetectors, laser diodes, and optical sensors, all of which are very extensively applied in telecommunications and the equipment of medical devices. The applied semiconductor is designed and implemented in such a way that has become an essential component for powering various technologies, among which are power electronics, optoelectronics, and others.

Report Coverage

This research report categorizes the market for South Korea semiconductor device market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea semiconductor device market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea semiconductor device market.

Driving Factors

While demand from the electronics and automotive industries for semiconductor devices is expected to add up a considerable amount in terms of revenues in the near term, industry growth may be hampered by a deficit of skilled labor-intensive tasks in the near future. The South Korean government is also doing various things to strengthen the landscape of semiconductors. For instance, the Ministry of Trade, Industry, and Energy has recently announced the fact that chip exports will soon double to USD 200 billion by the year 2030. In addition, the Korean Government is establishing a "K-Semiconductor belt" in order to reach a few kilometers south of Seoul, thereby bringing chip designers, manufacturers, and suppliers under the same roof.

Restraining Factors

The South Korean semiconductor device market faces several restraining factors, including geopolitical tensions, supply chain disruptions, high production costs, and increasing global competition, which may hinder growth and innovation.

Market Segment

The South Korea semiconductor device market share is classified into components and materials used.

• The memory devices segment is expected to hold the largest market share through the forecast period.

The South Korea semiconductor device market is segmented by component into memory devices, logic devices, analog IC, MPU, discrete power devices, MCU, sensors, and others. Among these, the memory devices segment is expected to hold the largest market share through the forecast period. This is primarily attributed to the increasing demand for high-capacity storage solutions in various applications, including consumer electronics, data centers, and mobile devices.

• The silicon carbide segment is expected to hold the largest market share through the forecast period.

The South Korea semiconductor device market is segmented by materials used into silicon carbide, gallium manganese arsenide, copper indium gallium selenide, molybdenum disulfide, and others. Among these, the silicon carbide segment is expected to hold the largest market share through the forecast period. This is attributed to its superior thermal conductivity and efficiency make it highly desirable for applications in power electronics and electric vehicles, driving significant demand.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea semiconductor device market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Intel Corporation
• Toshiba Corporation
• Samsung Electronics Co. Ltd
• NXP Semiconductors NV
• SK Hynix Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In January 2024, South Korea is said to host a semiconductor mega-cluster in the Gyeonggi province. The plan for the mega-cluster is expected to receive an investment of around USD 470 billion from leading semiconductor companies. By 2047, the mega-cluster is expected to begin its operations.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea semiconductor device market based on the below-mentioned segments

South Korea Semiconductor Device Market, By Component

• Memory Devices
• Logic Devices
• Analog IC
• MPU
• Discrete Power Devices
• MCU
• Sensors
• Others

South Korea Semiconductor Device Market, By Materials Used

• Silicon Carbide
• Gallium Manganese Arsenide
• Copper Indium Gallium Selenide
• Molybdenum Disulfide
• Others