Strong headwinds

Last update – June 2023
Business environment risk
Political risk
Commercial risk
  • Broad customer base (consumer electronics, automotive, telecommunications, industry, etc.)

  • Powerful long term growth drivers (digitization of the economy)

  • Technology intensive, innovative industry

  • Semiconductors: concentrated, high value added, high margin product markets
  • Commodity electronic components: fragmented, low barrier to entry, low margin product markets

  • Saturation reached in major client industries (smartphones, computers, etc.)

  • Volatility, with one major recession every four to five years on average
Aurelien Duthoit
Allianz Trade