Semiconductor industry revenue worldwide 2012-2024

In 2022, revenue from the global semiconductor industry amounted to just under 600 billion U.S. dollars, an increase from the previous year where total revenues reached 595 billion U.S. dollars. In 2023, semiconductor market revenues are expected to reach just 532 billion U.S. dollars - a fall of 11 percent.

Semiconductor industry

Semiconductors are a crucial element in modern electronics, making up an important component of many commonly used electronic devices including smartphones, tablets, and PCs - essentially all modern devices that many of us have become so highly dependent on in everyday life. As one might expect due to their central importance, the semiconductor industry is extensive and competitive.

Global chip shortage

The coronavirus pandemic had an impact on the semiconductor industry, with initial disruption observed in China and Taiwan - dominant chip-producing regions - where factories were forced to shut down when the pandemic first hit. However, although production recovered and semiconductor revenue grew, surges in demand due to changing consumer habits, together with challenges in chip capacity allocation, resulted in a global chip shortages.