The global semiconductor market will grow this year to a record 588 billion dollars
Kyiv • UNN
The global semiconductor market will reach $588 billion in 2024, recovering from a 9.4% drop in 2023 driven by AI demand.
The global market for semiconductors market is expected to grow by 13.1% in 2024 to reach a record 588.36 billion dollars. This was reported by UNN with reference to Kyodo News.
If this is realized, the size of the market in terms of terms of accounts will exceed the previous record of $574.08 billion in 2022. year. In 2023, the market is expected to shrink by 9.4 percent to $520.13 billion dollars due to a decline in demand for memory chips.
The optimistic outlook is due to the fact that the industry has begun to show signs of demand recovery due to the widespread use of generative AI.
The American chipmaker Intel Corp. chipmaker Intel Corp. said in October that it is likely to report its first revenue growth in two years by the end of the year. Rival firms Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. are also forecasting better profits in this period.
In the regional context, the largest growth in 2024 is expected in North and South America, where is projected to increase by 22.3%. The Asia-Pacific market, where many companies have their own production sites for smartphones and PCs, is is projected to grow by 12.0 percent. The Japanese market is estimated at only 4.4 percent.
