SIA: The bottom of the semiconductor industry has passed, with global sales estimated to exceed US$600 billion this year
TechNewsTechnology News
September 13, 2024
Author Central News Agency Zhang Jianzhong
September 13, 2024
Author Central News Agency Zhang Jianzhong
The U.S. Semiconductor Industry Association (SIA) said global semiconductor sales will exceed $600 billion in 2024 as the cyclical market downturn ends and demand for semiconductors is strong. The semiconductor industry is well-positioned for long-term growth, with global innovation continuing to grow and demand for semiconductors as the basis for innovation increasing simultaneously.
SIA releases a report on the semiconductor industry, explaining the opportunities for continued growth and innovation in the semiconductor industry, as well as the current and upcoming challenges that the industry will face.
SIA pointed out that last year, nearly 1 trillion chips were sold globally, equivalent to more than 100 chips per person, with sales of approximately US$527 billion. With the end of the cyclical market downturn and strong demand for semiconductors, sales are expected to climb to more than $600 billion in 2024.
SIA said growing demand will prompt new investments to increase chip production. Thanks to the benefits of the CHIPS and Science Act, U.S. semiconductor manufacturing capacity is expected to more than triple. According to statistics, since the U.S. Congress first proposed the Chip and Science Act, semiconductor factories have announced more than 90 new manufacturing projects in the United States, with an estimated total investment of nearly US$450 billion; these investment plans are estimated to create tens of thousands of direct jobs opportunities and provide hundreds of thousands of additional American jobs.
SIA pointed out that expanding the U.S. semiconductor supply chain will bring opportunities and challenges at the same time. As the business continues to expand, the demand for talents will also increase; in addition, there are also policy challenges, including the continued implementation of the Chip and Science Act and strengthening U.S. semiconductor research , design and manufacturing fields.
SIA said that governments around the world are interested in improving the flexibility of the supply chain of chip production and upstream materials production capacity, and the industry will promote global trade growth through deeper international cooperation.
SIA pointed out that the semiconductor industry is in a favorable position for long-term growth. As global innovation continues to grow, the demand for semiconductors as the basis for innovation will increase simultaneously, and the future of the semiconductor industry is bright.
Related links: https://technews.tw/2024/09/13/2024-state-of-the-industry-report-underscores-opportunities-and-challenges-for-u-s-chip-industry/
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