In 2020, the world faces a severe and acute public health emergency due to the COVID-19 global pandemic. The current crisis has highlighted the potential risks and susceptibility of today’s electronics and semiconductor value chain, consequently challenging the companies operating in semiconductor and electronics industry to consider transforming its global supply chain model. The semiconductor and electronics industry has already suffered considerable losses owing to COVID-19 in the first quarter of 2020. However, the industry is determined to bounce back strongly and the average industry growth will be expected in the second half of this year.
In Q1 2020, The World Health Organization (WHO) declared COVID-19 (coronavirus) to be a global pandemic. The COVID-19 has spread worldwide across more than 190 countries, with the majority of countries reporting cases. This has affected the global economy on a large scale, creating serious challenges to mitigate the economic impact of this human tragedy and sustain businesses through 2020 & 2021. The semiconductor and electronics industry is among the severely hit industries owing to its dependence on the severely hit China and other Asian markets. Some of the segments in this industry are at high risk such as consumer electronics, and automotive among others while other segments remain healthy including cloud-computing data centers, communication & connectivity technology, and healthcare.
Amidst this crisis for the automotive industry, we at Meticulous Research® are continuously assessing the impact of COVID-19 pandemic on various sub-markets, and enable global organizations to strategize for the post-COVID-19 world and sustain their growth.