The semiconductor industry is growing significantly owing to the extensive chip application across various end-use industries like consumer electronics, automotive, data processing, and government projects. Technological innovations such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) are critical drivers of chip demand.
The Semiconductor Industry Association (SIA) announced worldwide semiconductors sales of $137.7 billion during the first quarter of 2024, up 15.2% year-over-year. John Neuffer, SIA president and CEO said, “The market is expected to continue to grow during the remainder of the year, with double-digit annual growth projected for 2024.”
