Supply chain blockages have been a major headwind to the semiconductor industry since COVID-19 pandemic. However, strong demand for consumer electronics and increased prices due to tight supply have helped chipmakers perform well, despite the challenges. The worldwide semiconductor market was valued at $556 billion in 2021, up 26.2% from the previous year, with the Analog category the largest growth contributor with 33.1%. And according to World Semiconductor Trade Statistics (WSTS), the market is expected to grow 10.4% to $613.50 billion this year.
Earlier this month, U.S. House and Senate lawmakers said they had chosen negotiators to hammer out a deal on a bill to provide $52 billion in funding for semiconductor manufacturing. If the funding, also known as the Creating Helpful Incentives to Produce Semiconductors or CHIPS, is passed, it could significantly boost the semiconductor industry.
