Samsung slipped to third place in global top 20
According to Omdia's latest report the semiconductor industry experienced a downturn in the market, with 2023 revenues slipping 9% to USD 544 billion compared to 2022. This decline however follows two years of record growth – which only serves to illustrate the cyclical nature of the industry.
As previously reported by Evertiq, the report points out that, while there was an overall downturn in the semiconductor market, AI proved to be a significant growth driver in the industry. The hype was so strong that one of the biggest players in the field, Nvidia, saw its revenues increase by a whopping 133% YoY.
Nvidia has more than doubled its semiconductor revenue from 2022 to USD 49 billion in 2023. This becomes even more noteworthy when you look at the fact that Nvidia's semiconductor revenue was under USD 10 billion before the pandemic in 2019. Nvidia's skyrocketing revenue increase also boosted the company within the rankings of the top 20 semiconductor companies.
Intel still sits as number one, but Nvidia is edging closer. Samsung, the frontrunner from 2022 dropped down in the rankings and ended up at third place in 2023. Qualcomm took one step back from 2022 and now sits as number four in the rankings. Broadcom remains as number 5.
The companies with the biggest drops in revenues between 2022 and 2023 are unsurprisingly the memory players. The downturn notably affected major memory makers, traditionally among the top semiconductor companies by revenue.
Previously, from 2017 to 2021, Samsung Electronics, SK Hynix, and Micron Technology were all ranked in the top five companies by revenue. However, amidst the challenging memory market conditions, Samsung is now – as mentioned earlier – ranked third, SK Hynix is ranked sixth, and Micron is ranked twelfth in 2023.
| 2022 Rank | 2023 Rank | Company | 2022 revenue ($) | 2023 revenue ($) | Change (%) |
| 2 | 1 | Intel | 60,810 | 51,197 | -15.8% |
| 8 | 2 | Nvidia | 21,049 | 49,161 | 133.6% |
| 1 | 3 | Samsung Electronics | 67,055 | 44,374 | -33.8% |
| 3 | 4 | Qualcomm | 36,722 | 30,913 | -15.8% |
| 5 | 5 | Broadcom | 26,956 | 28,427 | 5.5% |
| 4 | 6 | SK hynix | 34,100 | 23,680 | -30.6% |
| 7 | 7 | Advanced Micro Devices (AMD) | 23,777 | 22,408 | -5.8% |
| 11 | 8 | Apple | 17,279 | 18,635 | 7.8% |
| 13 | 9 | Infineon | 15,408 | 17,294 | 12.2% |
| 12 | 10 | STMicroelectronics | 16,128 | 17,286 | 7.2% |
| 9 | 11 | Texas Instruments | 19,277 | 16,603 | -13.9% |
| 6 | 12 | Micron Technology | 26,870 | 15,963 | -40.6% |
| 10 | 13 | MediaTek | 18,524 | 13,883 | -25.1% |
| 14 | 14 | NXP | 12,954 | 13,076 | 0.9% |
| 15 | 15 | Analog Devices | 12,097 | 11,823 | -2.3% |
| 16 | 16 | Renesas Electronics | 11,453 | 10,479 | -8.5% |
| 18 | 17 | Sony Semiconductor Solutions | 9,417 | 10,212 | 8.4% |
| 21 | 18 | Microchip Technology | 7,717 | 8,185 | 6.1% |
| 19 | 19 | Onsemi | 8,069 | 7,856 | -2.6% |
| 17 | 20 | Kioxia | 11,021 | 7,126 | -35.3% |
| Top 20 companies | 456,683 | 418,581 | -8.3% | ||
| All others | 140,979 | 126,232 | -10.5% | ||
| Total semiconductor | 597,662 | 544,813 | -8.8% | ||
| Source: Omdia | |||||
