The World’s Chip Industry Poised to Bounce Back After Tough 2023
- Semiconductor Industry Association projects 13% rise in sales
- Global sales fell 8.2% last year after 2022 was industry best
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The global chip industry is poised for a significant rebound this year with sales expected to jump to a record level, fueled by a greater need for the electrical components from a broad range of businesses, according to a forecast from the Semiconductor Industry Association.
Worldwide sales declined 8.2% to $526.8 billion in 2023, although the fall was mitigated by improving conditions in the second half of the year, the association said Monday in a statement. The increasing momentum indicates sales will gain 13% this year to almost $600 billion, the SIA said.