Global semiconductor revenue to hit $600B in 2024
Worldwide sales for the chip industry will grow by more than USD 75 billion this year, says a new study by DIGITIMES Research.
The market analyst estimates that that the worldwide integrated circuit (IC) design and integrated device manufacturer (IDM) sector had a tough 2023. Thanks to geopolitical unrest and a glut of inventory, it generated US 523 billion – an 8.9% decline compared to the previous year.
But 2024 will be much better. DIGITIMES expects venue to reach US 600 billion, a 17% increase. The study says the US remains the industry's superpower, with an approximate 60% share in 2023, followed by South Korea with a 12% share, Europe and other regions (11%), Taiwan (7%), Japan (6%), and China (4%).
Of course, the bounce back will be driven largely by huge demand for AI application chips and memory. And DIGITIMES reckons the AI surge will cause server, notebook, and PC shipments to increase in 2024 too.
