In a lot of older Expanded Universe (EU) and some newer Disney material, the TIE Fighter is typically looked down as a “budget” fighter, when compared with the Rebel Alliance's X-Wings; mainly in hyperdrives and shielding capabilities.

Certain TIEs have always had hyperdrives -- Vader's TIE x1 Advanced prototype which he flew in A New Hope had a hyperdrive, as did the production TIE Avengers derived from the TIE Advanced Prototype, as well as the later TIE Defender. Darth Maul's TIE precursor in The Phantom Menace also had a hyperdrive as well.

The main issue for hyperdrives or shields not being in every TIE Fighter built was...cost.

Canonically, there were 25,000 Imperial Star Destroyers in the Imperial Navy in both the old EU canon and now the new Disney canon. At a wing of 72 TIEs per ISD, that's 1.8 MILLION TIEs alone.

The Empire at it's height had about a million worlds or systems. If we assume the same distribution for government structures as in the USA:

If we use a cutoff point equivalency of 10,000 population; then 15.8194% (0.158194) of all systems in the Empire are populous to at least warrant the services of a full TIE Wing.

1 million times 15.8 percent equals 158,000 Wings and 11.37 MILLION TIEs.

Now, this is a simple analysis; we'd have to figure out how many TIE Wings a top grade world like Coruscant would get (a lot more than just 1), and figure out the contribution of the Imperial Army Garrisons (Imperial Army TIE Wings are only 4 squadrons); but it provides a lower bound.

Then there's the scores of miscellaneous TIEs all over the galaxy:

Space Stations (2 to 3 squadrons -- 24 to 36 TIEs)
Nebulon B Frigate (2 squadrons - 24 TIEs)
etc.

It's plausible to figure that there are at least 20~ MILLION TIEs in the Galactic Empire at it's height.

When you have that many, cost and efficiency become main drivers -- an analogous situation would be looking at early Vietnam-era UH-1 Huey costing. (LINK). In that situation, a UH-1 Huey cost about $300,000 in 1969; and the cost to add self sealing fuel tanks was $10,000 or about 3% of the total helicopter's cost. We know this for a fact because the US Air Force didn't lose their UH-1s to fuel fires because they spent the extra money to put self sealing fuel tanks in their helicopter purchases.

So it's easy to see how the vast majority of TIEs built are simple, rugged craft designed for local patrol duties simply because of cost.

When you look at the old WEG/EU numbers (many of these numbers were recycled into newer Disney RPG books) for common spacecraft, they are:

I think the big thing to keep in mind here is that Star Wars is still in the “mass combat era”, i.e. a TIE Fighter would be equivalent to a first class piston engine fighter (Bf-109/Spitfire/P-51), while the X-Wing is equivalent to the Me-262.

In both cases, they're very good; with clear qualitative differences between them, but you still need hundreds of them to make a difference. It's not like modern air combat today, where a single F-35 squadron of 12 aircraft can win a war; but the price for that squadron makes them out of the question for anyone who isn't a first world nation; whereas in days past, even Romania could design and produce several hundred “OK” fighters in WWII (IAR 80).

At the scales SW is looking at – 20 million TIEs to equip the entire Imperial Navy and Army – you get the following cost deltas:

...and at the end of the day, even a full squadron of hyperdrive capable Starfighters is pretty powerful, but it can't sustain combat the way that even a simple capital ship can.

The old WEG Rebel Sourcebook pointed out that about an hour's worth of combat flight was enough to drain even the most efficient starfighter's fuel cells, and that starfighter fuel cells had to be twice as pure as standard starship-grade fuel cells.

So, from a econometrics point of view; which would you rather have?

A single ISD or 12,600+ TIE Defenders?
A single Nebulon B Frigate or 1,500+ Assault Gunboats?

The ISD and Nebulon B can cross the galaxy in a rather short period of time, carrying an entire payload of combat cargo (Troops, Starfighters, etc); and be ready to sustain heavy combat right away; whereas starfighters are relatively short ranged and require intensive support to keep up their combat capabilities beyond a simple hit and run harassment raid.