Here is a little bit of research I have come across.The Global...

Here is a little bit of research I have come across.

The Global Semiconductor Market was worth USD 661.47 billion in 2022 and is anticipated to reach up to USD 1421.45 billion in 2030 with an adequate CAGR of 11.55% throughout the forecasted period of 2023 to 2030.

The continuous rise in the usage of consumer electronics products worldwide is regarded as one of the main factors driving the market growth. Additionally, the advent of the Internet of Things (IoT), artificial intelligence (AI), & machine learning (ML) technologies are also boosting the market growth significantly. Memory chips can process huge volumes of data more quickly because of these innovations. Also, throughout the course of the projected period, the market expansion will be driven by the rising need for faster and more sophisticated memory chips for industrial use.

Significant Advancements in Artificial Intelligence & The Internet of Things (IoT)

The rapid advancement in artificial intelligence (AI) & the Internet of Things (IoT) has resulted in the development of chips integrated with more powerful computing capabilities and high-quality, purpose-built chips for specific applications.

The combination of AI and IoT has also enabled semiconductor manufacturers to rapidly develop solutions for specific use cases and applications. AI-enabled chips can be used to optimize the performance of autonomous robots, while IoT-enabled chips can be used to power connected devices. One example of AI and IoT-enabled semiconductors in robotics is the NVIDIA Jetson platform, which consists of a family of embedded systems-on-module (SoMs) and developer kits that are designed to provide high-performance computing for AI and computer vision applications in robotics.

Growth of the Related Industries

Dependent industries such as automotive (EVs), data storage, wireless telecom etc. rely heavily on semiconductor technology. The batteries and other components need to be powered to operate efficiently leading to an increase in demand for reliable and efficient semiconductor technology, which has in turn driven the development of better and more advanced semiconductor components. Similarly, the amount of data being created and stored has grown exponentially, the need for semiconductors for the storage and processing of this data has also surged. This has led to the development of more advanced memory chips, processors, and other semiconductor components that can store and process vast amounts of data in a short timeframe.

Covid-19 Impact on Global Semiconductor Market

The pandemic has led to a sudden and unexpected increase in the demand for consumer electronic devices, which has caused a surge in global semiconductor revenues. The COVID-19 pandemic with its global impact had endangered production in the entire supply-chain industry. After a steep decline in global semiconductor revenues, a shortage of chip production caused extensive disruptions in the automotive industry, with huge losses in revenue. These losses are expected to continue throughout the years to come, thereby making the industry a low priority among global fabricators.

Looking ahead, the post-COVID-19 situation of the semiconductor market is expected to remain stable. The adoption of digital technologies is likely to continue, thereby driving the demand for semiconductors across various industries, including automotive, and healthcare. However, at present, the industry is facing challenges such as supply chain disruptions, rising costs, and geopolitical tensions.

Impact of The Russia-Ukraine War on the Global Semiconductor Market

The conflict between Russia and Ukraine has had a significant impact on the Global Semiconductor Market. The war has caused an increase in the prices of semiconductors, leading to a decrease in their demand. The rise in prices of semiconductors has been driven by the political uncertainty between the two countries, as well as the sanctions imposed on Russia by NATO. This has resulted in a decrease in the supply of Russian semiconductors, causing prices to surge significantly. Additionally, the war has also influenced the value of Russian currency, resulting in an increase in the cost of semiconductors imported from Russia.