As technology develops and its use increases, the consumer electronics market is also growing rapidly. In the face of increasing demand, the chip crisis caused by the pandemic ties the hands of the manufacturers. While automotive is one of the sectors most affected by the chip crisis, Turkey, which is the 4th in Europe in automotive, is among the few countries in the world in chip production.
Last week, the eyes of the world were on CES 2022. The world's largest consumer electronics fair, held in Las Vegas from January 5-8, revealed the latest point in the industry. With the development of technology and the driving force created by the pandemic, the global consumer electronics market is constantly growing. According to Statista's data on the subject, the consumer electronics industry, which is expected to reach approximately $782 million by the end of this year, is expected to reach almost $7,62 million in 2025, with an annual average growth of 975%. The rising demand as a result of the increase in the use of electronic devices cannot be met due to the insufficient capacity in chip production, many sectors come to a standstill. The data of the international consultancy company Thinktech indicate that the chip crisis in the last months has negatively affected 169 sectors around the world. “Many political, pandemic and natural factors cause crises in chip production. The effects of these crises are felt intensely on a global scale”.
The chip crisis could last until 2024
Examining the current developments and data on the subject, Online PR Service B2Press reveals the extent of the chip crisis. While the data of Gartner Global Chip Crisis research indicates that the chip crisis may extend until the fourth quarter of 2022, Arvind Krishna, CEO of technology giant IBM, states that he expects the problem to last until 2024. Gürcan Karakaş, CEO of Turkey's Automobile Enterprise Group (TOGG), is among those who mark the end of 2022. In his statement at CES 2022, Karakaş said, “We predict that the chip crisis will continue for another year. In line with our plans, we think that we will not be caught in the chip crisis with the reservations we make.” Alan Priestley, one of Gartner's analysts, states that although capacity increases can only save the next few years, he says: “In 5 years, when everyone wants to use the latest electronic equipment, new crises are likely to occur in the future, since the capacity will need to be increased again.”
“Turkey is one of the few countries with its own chip manufacturing capability”
Automotive is one of the sectors most affected by the chip crisis. US consulting firm AlixParnerts states that by the end of 2021, the total damage in the automotive industry has reached $110 billion. Considering the chips, the key material of automotive production, it is seen that 10 of the 6 largest manufacturers are based in the USA. draws attention to it. The cooperation agreement signed between Turkey and Malaysia also supports domestic chip production efforts. According to the figures announced by the Uludağ Automotive Industry Exporters' Association, the Turkish automotive industry, which closed 2 with an export of 15 billion dollars with an increase of 2021% compared to the previous year, ranks 19th in the world and 15th in Europe.