The semiconductor industry has witnessed skyrocketing demand since the onset of the COVID-19 pandemic due to the extensive usage of chips in electronics, critical infrastructure, electric vehicles, and other industries. The global semiconductor market is expected to reach $893.10 billion in 2029, growing at a CAGR of 9.2%.
The ever-increasing demand and lingering supply disruptions due to ongoing Taiwan-China tensions have intensified the global semiconductor shortage. However, the industry is benefitting from price increases.
