SIA: Semiconductor trough has passed, global sales will increase to $600 billion by 2024
The Semiconductor Industry Association (SIA) in the United States has released its annual industry status report. The report emphasizes the opportunities for sustained growth and innovation in the semiconductor industry, and points out the current and upcoming challenges facing the sustained success of the semiconductor industry.
The report points out that by 2023, the global sales of the semiconductor industry will reach $527 billion, with nearly 1 trillion semiconductor products sold worldwide, equivalent to over 100 chips per person worldwide. With the end of the cyclical downturn in the market and the surge in demand for semiconductors, world semiconductor trade statistics predict that sales will increase to over $600 billion in 2024.
The demand continues to grow, and new industry investments are constantly emerging to increase chip production. The US semiconductor sector is expected to benefit from the US Chip Act, with its manufacturing capacity expected to more than double, and new private investments will occupy a larger share in the semiconductor manufacturing field.
SIA pointed out that in fact, since the first submission of the US Chip Act to Congress, companies in the semiconductor ecosystem have announced more than 90 new manufacturing projects in the United States, investing nearly $450 billion in 28 states. These investments are expected to create tens of thousands of direct job opportunities and provide hundreds of thousands of additional job opportunities for the entire US economy. The industry is investing in countries around the world to establish a stronger and more resilient supply chain.
The strengthening and expansion of the domestic chip supply chain in the United States bring both enormous opportunities and challenges. For example, as the business continues to expand, the demand for talent will also increase; In addition, there are policy challenges, including the continued implementation of the Chip Act and the strengthening of the United States' semiconductor research, design, and manufacturing capabilities.
In terms of chip production and upstream material capacity, governments of other countries are also particularly concerned about improving supply chain resilience to reduce strategic dependence. The industry is committed to ensuring the resilience of the global semiconductor supply chain, further promoting global market access, and promoting global trade growth through deepening international cooperation.
Overall, the semiconductor industry is prepared for long-term growth. With the continuous increase of global innovation, the demand for semiconductors will also continue to increase, and semiconductors will become the foundation of innovation and progress.
SIA finally mentioned that the role of semiconductors in society has never been as important as it is today, and the future of our industry has never been as bright as it is today.
The demand continues to grow, and new industry investments are constantly emerging to increase chip production. The US semiconductor sector is expected to benefit from the US Chip Act, with its manufacturing capacity expected to more than double, and new private investments will occupy a larger share in the semiconductor manufacturing field.
SIA pointed out that in fact, since the first submission of the US Chip Act to Congress, companies in the semiconductor ecosystem have announced more than 90 new manufacturing projects in the United States, investing nearly $450 billion in 28 states. These investments are expected to create tens of thousands of direct job opportunities and provide hundreds of thousands of additional job opportunities for the entire US economy. The industry is investing in countries around the world to establish a stronger and more resilient supply chain.
The strengthening and expansion of the domestic chip supply chain in the United States bring both enormous opportunities and challenges. For example, as the business continues to expand, the demand for talent will also increase; In addition, there are policy challenges, including the continued implementation of the Chip Act and the strengthening of the United States' semiconductor research, design, and manufacturing capabilities.
In terms of chip production and upstream material capacity, governments of other countries are also particularly concerned about improving supply chain resilience to reduce strategic dependence. The industry is committed to ensuring the resilience of the global semiconductor supply chain, further promoting global market access, and promoting global trade growth through deepening international cooperation.
Overall, the semiconductor industry is prepared for long-term growth. With the continuous increase of global innovation, the demand for semiconductors will also continue to increase, and semiconductors will become the foundation of innovation and progress.
SIA finally mentioned that the role of semiconductors in society has never been as important as it is today, and the future of our industry has never been as bright as it is today.