Semiconductor market revenue in Europe 2006-2024

In 2023, revenue from the sale of semiconductors in Europe reached 57.05 billion U.S. dollars, with forecasts projecting it will rise to over 59 billion U.S. dollars in 2024.

Semiconductors: a multi-billion dollar industry

Semiconductors are a big business in Europe, with 4.5 billion U.S. dollars of sales in the first month of 2023 alone. This is slightly above the four billion U.S. dollars of sales seen in Japan , and made up close to 10 percent of the global sales in the month.

Semiconductor market expected to decline before recovering

As the world becomes more reliant on electronics, the potential market for semiconductor manufacturers and retailers will continue to grow. Due to their ability to conduct electricity under some circumstances but not others, they are vital for controlling electrical currents. By adding impurities to a semiconductor, manufacturers are able to customize its conductivity, such as by making it light- or heat-sensitive. 2023 saw the market decline by around nine percent compared to the previous year as a result of global economic challenges. However, the market is expected to grow by 13.1 percent in 2024.