The semiconductor industry continues to witness high demand from the consumer electronics and Electric Vehicle (EV) industries. The soaring demand and limited production resulted in a massive shortage of semiconductor chips worldwide, further aggravated by the supply disruptions caused by the Russia-Ukraine war. However, manufacturers are ramping up production with government support to meet the increased demand.
Semiconductors are used in everything, from smartphones and computers to cars and home appliances. With the growing applicability of chips in the Internet of things (IoT), Artificial intelligence (AI), 5G network, and cloud computing, the demand for chips should keep rising.
