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The global semiconductor market was valued at $555.9 billion in 2022 and is projected to reach $1.03 trillion by 2030, growing at a CAGR of 6.3% from 2023 to 2030.
Semiconductor market size by end market 2023 | Statista
By 2025, one of the leading end markets within the global semiconductor industry is expected to be smartphones, particularly the continued development of image sensors and edge artificial intelligence (AI) processors in such devices. In 2023, the smartphone semiconductor market was valued at 104 billion U.S. dollars, with projections suggesting this is likely to rise to 146 billion U.S. dollars by 2025.
Over the last decade, revenues generated by the global semiconductor industry have steadily increased, surpassing 520 billion U.S. dollars in 2023. In the coming years, semiconductor market revenues are expected to remain high, with predictions suggesting that the market will approach 590 billion U.S. dollars in 2024.
The latest development in the semiconductor industry are chips that support AI technologies, with the hype around AI witnessed in 2023 only serving to support this direction of travel. AI technologies and tasks require specialized AI chips that are more powerful, more efficient, and optimized for advanced machine learning algorithms. AI chips are expected to become commonplace in smartphones, PCs, and wearables, as well as in industrial and automotive end markets too
In 2023, the artificial intelligence (AI) chip market reached 53.6 billion U.S. dollars. This figure is forecast to increase to 71.3 billion dollars by the end of 2024 as the hype around AI applications continues to grow, with longer forecasts suggesting the market will surpass 90 billion U.S. dollars in 2025.