The Semiconductor Industry Association of United States (SIA) has released its annual State of the Industry Report. The report highlights opportunities for continued growth and innovation in the semiconductor industry and points to current and upcoming challenges to the continued success of the semiconductor industry.
The report pointed out that in 2023, the global sales of the semiconductor industry will reach 527 billion US dollars, and nearly 1 trillion semiconductor products will be sold worldwide, which is equivalent to more than 100 chips per person in the world. With the end of the cyclical downturn in the market and the high demand for semiconductors, world semiconductor trade statistics expect sales to increase to more than $600 billion in 2024.
Demand is growing, and new industrial investments are emerging to increase chip production. United States semiconductors, partly benefiting from the United States CHIPS Act, are expected to more than triple their manufacturing capacity, and new private investment will capture a larger share of semiconductor manufacturing.
In fact, since the United States CHIPS Act was first introduced 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, SIA noted. These investments are expected to create tens of thousands of direct jobs and provide hundreds of thousands of additional jobs throughout the United States economy. The industry is investing in countries around the world to build a stronger and more resilient supply chain.
The strengthening and expansion of the local chip supply chain in United States brings great opportunities and challenges. For example, as the business expands, so does the need for talent; In addition, there are policy challenges, including continued implementation of the CHIPS Act to strengthen United States in semiconductor research, design, and manufacturing.
In terms of chip production and upstream material capacity, governments in other countries are also paying special attention to improving supply chain resilience to reduce strategic dependence. The industry is committed to ensuring the resilience of the global semiconductor supply chain, further facilitating access to global markets, and promoting the growth of global trade through deepening international cooperation.
Overall, the semiconductor industry is poised for long-term growth. As global innovation continues to increase, so will the demand for semiconductors, which will become the foundation for innovation and progress.
SIA concluded by mentioning that the role of semiconductors in society has never been more important than it is today, and the future of our industry has never been brighter than it is today.
Source | Set micronet
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