I Executive Summary 2

1 Introduction and Background 3

1 1 Study Objectives 3

1 2 Methodology & Approach 3

1 3 Acknowledgements 3

2 Semiconductor-Enabled Industries 4

3 Sector Profile 6

3 1 Sectoral Changes 2022/23 – 2024/25 7

3 2 Number of Semiconductor Companies 8

3 3 Semiconductor Activity by Supply Chain Segment 10

3 4 Location of Dedicated Semiconductor Companies 14

4 Economic Contribution 15

4 1 Estimated Revenue 15

4 2 Estimated Employment 18

4 3 Estimated Gross Value Added 20

5 Regional Foundations, National Capability 21

5 1 East of England (Cambridge) 21

5 2 London 22

5 3 North East 23

5 4 Northern Ireland 24

5 5 North West 25

5 6 Scotland (Edinburgh) 26

5 7 Scotland (Glasgow) 27

5 8 South East (Southampton) 28

5 9 South West (Bristol) 29

5 10 Wales (South Wales) 30

5 11 West Midlands (Warwick) 31

5 12 Yorkshire & Humber (Sheffield, Leeds) 32

5 13 Role of Regions in UK Semiconductor Activity 33

6 Sector Dynamism & Maturity 34

6 1 Perceived UK Strengths 34

6 2 Investment 40

6 3 Perceived Gaps, Growth Barriers & RIsks 41

6 4 Horizon Scanning 42

7 International Activity 44

7 1 International Trading Locations 44

7 2 Semiconductor Imports 45

7 3 Semiconductor Exports 47

7 4 Balance of Trad