Global chip market forecast to grow to record $588 bil. in 2024

Economy

The global semiconductor market is expected to grow 13.1 percent in 2024 to a record $588.36 billion, following a slump this year, thanks to growing demand for chips used for artificial intelligence, according to a forecast by an industry organization. The World Semiconductor Trade Statistics, an organization formed by major chip manufacturers, revised its growth forecast higher for the next year from the previous growth estimate made in June of 11.8 percent. If realized, the market size in terms of billings will exceed the previous record of $574.08 billion in 2022. In 2023, the market is exp...

Kyodo News

Kyodo News