While giving an account of spatial pattern of 'semiconductor industry' around the world, discuss its key features that make it unique in global economy.
The spatial pattern of the semi-conductor industry is largely concentrated in the following places-
- South Korea
The semi-conductor industry is driven by technological innovations. Some of the important characteristics and demands which make the industry truly global in nature are-
- The automotive and industrial markets for semiconductors offer significant growth potential.
- Demand from the smartphone, tablet and wireless sectors.
- Demand for sensors globally.
- ‘Internet of things’ is in vogue which adds to the popularity of the semi-conductor industry.
- Demand for hybrid and electric cars is growing fast globally which again is an important reason for the growth of this industry.
- Military and civil aerospace- This is a specialized segment under the semi-conductor industry wherein integrated circuits related to a particular application are built.
- Cloud computing is the word today. It demands denser, energy efficient and secure data centres and networks, and more intelligent network control.
According to International Data Corporation, the compounded annual growth rate of the industry is to be 3.1% from 2014–2019.