The global chip shortage, which had impacted various downstream businesses since the beginning of the year, made way for a demand crisis with manufacturers having to deal with excess inventory. Moreover, aggressive interest rate hikes by the central banks worldwide to control inflation threaten further pullback in demand.
Despite various headwinds and uncertainties, the extensive and increasing use of semiconductor chips in electronics, critical infrastructure, electric vehicles, and other industries remains immutable in our rapidly digitizing modern economy.
