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Rise of the "Big 4" the Semiconductor Industry in Asia Pacific

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Rise of the Rise of the "Big 4" The semiconductor industry in Asia Pacific Table of Contents The Asia Pacific "Big 4" 1 On the road to recovery 6 The emergence of "multi-markets" 13 Resilience is key 16 Self-sufficiency takes time 18 Too big to ignore 24 The semiconductor industry in Asia Pacific | The Asia Pacific "Big 4" 1 The semiconductor industry in Asia Pacific | The Asia Pacific "Big 4" The Asia Pacific "Big 4" Rise of "Big 4" in semiconductor Driven by government support, revenue and each have several global vast market and increasing R&D semiconductor giants. Asia Pacific is spending, China, Japan, South Korea also the world's biggest market for and Taiwan together have become semiconductors, accounting for 60% the "Big 4" semiconductor players in of global semiconductor sales, within Asia Pacific, holding four of the top which China alone accounts for over six spots by overall semiconductor 30%. Figure 1: Semiconductor revenue by country (Top 6) : Taiwan (Province of China) 6% South Korea 19% United States 47% Japan 5% China 5% The Netherlands 4% Source: SIA Figure 2: Top 10 Asian semiconductor vendors by revenue in 2019 (USD million) 2019 Revenue Company Country/Region (USD million) Samsung Electronics 52,214 South Korea TSMC 34,632 Taiwan (Province of China) SK hynix 22,478 South Korea Hisilicon 11,550 China Kioxia 8,797 Japan Sony 8,654 Japan MediaTek 8,066 Taiwan (Province of China) Renesas 6,755 Japan SMIC 3,014 China ROHM 2,803 Japan Source: Company reports 2 The semiconductor industry in Asia Pacific | The Asia Pacific "Big 4" The semiconductor value chain is long and involves many specialized fields: equipment, Electronic Design Automation software (EDA), Intellectual Property core (IP), Integrated Device Manufacturer (IDM and fabless), foundry and Outsourced Semiconductor Assembly & Test (OSAT). Each of the "Big 4" has different strengths and plays a critical role in the global semiconductor value chain. Figure 3: Relative strength of the "Big 4" across the semiconductor value chain EDA&IP Fabless Material Foundry OSAT /IDM Equipment EDA&IP Material Equipment Fabless/IDM Foundry OSAT China South Korea Japan Taiwan (Province of China) High Medium Low Source: Deloitte analysis South Korea – Leading the pack South Korea's semiconductor South Korea has more than 20000 has been created in South Korea, industry is large and include semiconductor related companies, forming city clusters of semiconductor numerous enterprises. The biggest including 369 IC manufacturing industries such as Yongin and Icheon, semiconductor enterprises are enterprises, 2650 semiconductor supporting the whole semiconductor Samsung and SK Hynix. Samsung is equipment enterprises and 4078 industry of South Korea. South the most important semiconductor semiconductor material enterprises. Korea also surpassed Japan and company in South Korea, which A typical semiconductor factory is Taiwan to become the second largest conducts in IC design、smart phones surrounded by a variety of supporting semiconductor country after the and wafer manufacturing. SK Hynix enterprises. Through layers of United States. has led the world in DRAM and NAND outsourcing and subcontracting, a Flash market share for many years. huge semiconductor industry chain 3 The semiconductor industry in Asia Pacific | The Asia Pacific "Big 4" Japan – Specialty expert Japan's strengths in semiconductors Semiconductor materials have high industrial expertise should not be are in raw materials, equipment and requirements for purity, which only underestimated. For example, in 2019, small active-passive components. Japan is capable of creating. Although Sony semiconductor became a top 10 Along the semiconductor value chain, Japan's performance in other fields global semiconductor supplier just by Japan has substantial advantages in of the semiconductor industry producing camera image sensors. upstream semiconductor materials. remains under the radar, its deep Taiwan (Province of China) – Manufacturing powerhouse Taiwan has well-developed competitive in chip manufacturing from those received by Chinese semiconductor clusters. It is one and IC design and has the world's companies. But, the brand image of the few regions in the world biggest foundry and most advanced accumulated over the years still wields with a depth and breadth of semiconductor manufacturing power. Taiwan is also benefiting from semiconductor clusters packed into process technology. Taiwan also has the impact of the US-China trade war, a small geographical area. Taiwan's an advantage in brand image. For in which a large amount of talent and cluster effect has great advantages example, many of Taiwan's ODM/OEM many enterprises are rapidly flowing for semiconductor development, production bases and supporting back to Taiwan. This means Taiwan's which focuses on vertical integration supply chains have been transferred semiconductor industry should and cooperation between different to China, and the subsidies they continue to grow. industries. Taiwan is very strong and receive are essentially no different China – Rapidly advancing China's strength in semiconductors is main players in Asia Pacific IC design. returns. Semiconductor products that its ability to rapidly scale a technology Although labor costs in China have require longer investment periods once it reaches maturity, an area in increased, overall cost is still quite low have less of a footprint in China. For which no country can really compete because manufacturing continues to example, it takes time for automotive with it. China is also quite strong in be subsidized by the government. electronics to be certified, and there's OSAT, and has a large share of the little participation in this segment global market. In integrated circuit The development of China's by Chinese manufacturers. That (IC) design, China's capability has semiconductor industry has been said, China will play an increasingly surged over the past 5 years, and comparatively rapid, making Chinese important role in the semiconductor started to catch up with Taiwan's and enterprises accustomed to investing industry. South Korea's, joining them as the in areas that can earn short-term 4 The semiconductor industry in Asia Pacific | The Asia Pacific "Big 4" Figure 4: Major semiconductor clusters of "Big 4" Key Cluster Characteristics Major Companies Key Areas Japan Silicon Island • Accounts for about 5% of all world • Sony • Integrated device Kyushu semiconductor production Semiconductor manufacturers (IDMs) • Surrounded by 41 universities • Sony LSI Design • Hitachi ULSI Systems • Toshiba Corporation • Rohm Fukuoka • Mitsui High-tec South lGyeonggi- • It plans to spend about 120 trillion won over 10 • Samsung • SME Korea do and years and forming semiconductor cluster in 2030. (semiconductor • SK Hynix Chungcheong- manufacturing • Establish four large semiconductor do regions equipment) manufacturers and about 50 upstream and downstream suppliers Taiwan Hsinchu • More than 70% of global IT industry products are • TSMC • Wafer foundry (Province Science park initiated from companies at the Hsinchu Science • UMC • IC Design of China) Park. • Media Tek. Inc • PC • Generates an annual revenue of more than 33 billion USD over the past five years and enjoys its • Realtek • Telecom global reputation as a brilliant science park. • CHIMEI • Oproelectronics • More than 520 tenant companies employ more INNOLUX than 150,000 people. • Precision Machinery • Macronix & Materials • Close to the Industrial Technology Research Institute(ITRI), National Tsing Hua University and National Chiao Tung University • Covers six locations—the Hsinchu, Jhunan, Tongluo, Longtan and Yilan parks as well as the Hsinchu Biomedical Science Park—that span a total area of nearly 1,400 hectares. China ZhangJiang Hi- • China's largest semiconductor cluster. • SMIC • Yangtze River Delta Tech Park (YRD) account • LinGang free trade zone is currently the hotspot • HuaHong for 53% of total for fab development. • ASML domestic fab • Surrounded by Wuxi, Nanjing, Suzhou, Ningbo revenue. • ASE and Hefei forming the Yangtze River Delta (YRD) • 33% of chip design with major fab investments in the past decade. • NXP revenue. • infineon • Up to 60% of ATP (assembly, test and package) revenue in 2018 according to the Shanghai Integrated Circuit Association. Source: Deloitte analysis 5 The semiconductor industry in Asia Pacific | On the road to recovery 6 The semiconductor industry in Asia Pacific | On the road to recovery On the road to recovery Global semiconductor revenue was other hand, has fared well due to declining even before the COVID-19 the increasing number of cameras pandemic (down 12% in 2019 to in smartphones. In the next 5 years, USD418 billion, according to IDC), logic IC and analogy IC will likely largely due to lower demand and the continue to grow, with inventory US-China trade dispute dampening clearance eventually driving up silicon industry sentiment. In addition, chip's average selling price. inventory pressures in smartphones and cloud infrastructure caused In addition, the maturity of many prices to decline, which impacted disruptive technologies, including semiconductor revenues. The AI, big data and 5G, will drive the emergence of COVID-19 drove another growth of the semiconductor contraction in the semiconductor market. Considerable growth will market. be maintained once the economy recovers, especially in connectivity- The semiconductor industry can be related products and applications. divided into several sub-segments. After all,
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