The global chip market may see a turnaround in 2024, with the semiconductor sales market recovering at a 20% annual growth rate. The growth drivers include the demand for AI and HPC, as well as smartphones, PCs, infrastructure, and automotive. Memory manufacturers’ control of supply and output has led to increasing prices. The semiconductor supply chain is expected to bid farewell to the downturn in 2023. Advancement in semiconductor technology will integrate more AI functions into personal devices, driving the demand for semiconductors. The automotive industry’s reliance on chips for automotive intelligence and electrification will be a long-term driver. ADAS and infotainment are key segments in the automotive semiconductor market.
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Global chip market to recover in 2024: Here are the biggest growth drivers
The global chip market may see a turnaround in 2024, with the semiconductor sales market recovering at a 20% annual growth rate. The growth drivers include the demand for AI and HPC, as well as smartphones, PCs, infrastructure, and automotive. Memory manufacturers’ control of supply and output has led to increasing prices. The semiconductor supply chain is expected to bid farewell to the downturn in 2023. Advancement in semiconductor technology will integrate more AI functions into personal devices, driving the demand for semiconductors. The automotive industry’s reliance on chips for automotive intelligence and electrification will be a long-term driver. ADAS and infotainment are key segments in the automotive semiconductor market.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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