Top 10 largest semiconductors suppliers in 2024

Global Semiconductor Market: Who Leads in 2024? 

The semiconductor sector is one of the key technological areas, directly impacting the development of artificial intelligence, automotive industry, telecommunications, and consumer electronics. Over the past twelve months, the market has experienced dynamic growth driven by increasing demand for chips used in advanced computing systems and mobile devices. Below is a ranking of the ten largest semiconductor suppliers worldwide from 2023 to 2024 based on Gartner analysts, considering their market share, revenue, and growth rate. 

Change in the position of leader and runner-up. Last year's number 2 has become the new number 1, and vice versa. The race is on. 

1.  Samsung Electronics

• Headquarters: Suwon, South Korea
• Founded: 1969
• Market Share: 10.6%
• Revenue 2024: 66,524 millions USD
• Revenue 2023: 40,942 millions USD
• Revenue Growth: 66.7%

Samsung continues to dominate the DRAM and NAND memory segment, though demand fluctuations in the first half of the year have affected its results. Despite this, the company maintains a strong position among the largest players.

2. Intel

• Headquarters: Santa Clara, USA
• Founded: 1968
• Market Share: 7.9%
• Revenue 2024: 49,189 millions USD
• Revenue 2023: 49,117 millions USD
• Revenue Growth: 0.1%

Intel remains a key player in the processor sector, though increasing competition from AMD and NVIDIA has forced the company to heavily invest in new technologies, such as 3nm chip production.

3. NVIDIA

• Headquarters: Santa Clara, USA
• Founded: 1993
• Market Share: 7.3%
• Revenue 2024: 45,988 millions USD
• Revenue 2023: 25,053 millions USD
• Revenue Growth: 83,6%

NVIDIA remains the undisputed leader in the graphics chips and AI accelerators segment. The rapid development of artificial intelligence technology, along with the growing demand for GPUs in data centers, has significantly contributed to the company’s impressive revenue growth.

4. SK hynix

• Headquarters: Icheon, South Korea
• Founded: 1983
• Market Share: 6.8%
• Revenue 2024: 42,824 millions USD
• Revenue 2023: 23,027 millions USD
• Revenue Growth: 86.0%

The growing interest in artificial intelligence and increasing demand for DRAM memory have contributed to SK hynix’s strong financial performance.

5.  Qualcomm

• Headquarters: San Diego, USA
• Founded: 1985
• Market Share: 5.2%
• Revenue 2024: 32,358 millions USD
• Revenue 2023: 29,225 millions USD
• Revenue Growth: 10.7%

Qualcomm remains a leader in mobile chipset technology and wireless communication, particularly in the context of 5G network development.

6. Micron Technology

• Headquarters: Boise, USA
• Founded: 1978
• Market Share: 4.4%
• Revenue 2024: 27,843 millions USD
• Revenue 2023: 16,123 millions USD
• Revenue Growth: 72.7%

Micron continues expanding in the flash and DRAM memory segment. Through strategic investments in new production lines, the company strengthens its global market position. The result marks a major rise in the ranking.  In 2023, Micron Technology was ranked 12th. 

7. Broadcom

• Headquarters: San Jose, USA
• Founded: 1991
• Market Share: 4.4%
• Revenue 2024: 27,641 millions USD
• Revenue 2023: 25,613 millions USD
• Revenue Growth: 7.9%

Broadcom is expanding its portfolio of networking and communication chips, focusing on the growing importance of cloud infrastructure and 5G technology. This result, despite the increase, represents a drop in ranking by three positions. 

8. AMD (Advanced Micro Devices)

• Headquarters: Santa Clara, USA
• Founded: 1969
• Market Share: 4.2%
• Revenue 2024: 26,208 millions USD
• Revenue 2023: 23,601 millions USD
• Revenue Growth: 11.0%

AMD continues to strengthen its position in the processor and graphics card markets, competing directly with Intel and NVIDIA. The revenue increase in 2024 is driven by growing demand for Ryzen processors and Radeon graphics cards, particularly in the gaming and data center segments.

9. Apple

• Headquarters: Cupertino, USA
• Founded: 1976
• Market Share: 3.9%
• Revenue 2024: 24,336 millions USD
• Revenue 2023: $21,700 millions USD
• Revenue Growth: 12.1%

Apple continues to develop its own semiconductor solutions, such as the M-series chips for Mac computers and the A-series chips for mobile devices. The integration of proprietary chips allows for optimized performance and energy efficiency, leading to increased sales and revenue growth.

10. Infineon Technologies

• Headquarters: Neubiberg, Germany
• Founded: 1999
• Market Share: 3.5%
• Revenue 2024: 21,840 millions USD
• Revenue 2023: 19,200 millions USD
• Revenue Growth: 13.8%

Infineon specializes in semiconductors for the automotive, energy, and IoT industries. The growing demand for solutions in electric vehicles and energy management systems has significantly contributed to the company’s revenue growth in 2024. It is also the only representative of Europe in this list. 

Second Tier: Who Else Matters?

Beyond the top ten, companies like Texas Instruments (USA), Analog Devices (USA), NXP Semiconductors (Netherlands), STMicroelectronics (Switzerland/France), Renesas (Japan), ON Semiconductor (USA), Sony Semiconductor Solutions (Japan), Rohm Semiconductor (Japan), and Loongson (China) also play a crucial role in the market.

A surprising newcomer in this ranking is Loongson (China), which entered the top 20 for the first time. The rapid expansion of the Chinese semiconductor sector and strong government support have helped Loongson increase its sales in the processor and microchip segment.

Meanwhile, STMicroelectronics have strengthened its positions in the automotive and industrial sectors, benefiting from the growing demand for chips used in electric vehicles and automation systems. NXP Semiconductors and Renesas have also profited from this trend.

Despite a slowdown in consumer electronics, Sony Semiconductor Solutions remains a strong player in the image sensor market, making it a key player in the photography and mobile industry.

What influenced the ranking?

According to the Gartner report that memory revenue recorded 71.8% revenue growth in 2024. Memory’s share as a percentage of total semiconductor sales increased to 25.2% in 2024. DRAM revenue improved 75.4% in 2024 while NAND revenue increased 75.7% year-over-year. Analytics pointed also that high-bandwidth memory (HBM) production contributed significantly to the revenue for DRAM vendors. HBM revenue represented 13.6% of total DRAM revenue in 2024, summaries in the report.

In Gartners opinion, nonmemory revenue increased 6.9% in 2024. Nonmemory accounted for 74.8% of total semiconductor revenue in 2024.
 

“Memory and AI semiconductors will drive near-term growth, with HBM projected to account for an increasing share of DRAM revenue, reaching 19.2% in 2025,” says Brocklehurst analytic from Gartner. “HBM revenue is estimated to increase 66.3% in 2025, reaching $19.8 billion.”