Global chip industry set for continued growth, driven by AI, 5G
Date
12/28/2024 1:39:56 PM
(MENAFN) The global Semiconductor industry is expected to continue expanding in the coming year, propelled by breakthroughs in artificial intelligence (AI) and 5G technologies.
Chips and semiconductors are fundamental to modern technology, powering devices ranging from smartphones and computers to industrial machinery, electronics, and even military defense systems. The sector plays a vital role in driving economic growth and fostering innovation across various industries.
In 2024, the chip industry saw substantial growth, with its market value estimated to exceed USD600 billion.
A report from consultancy PwC predicts that the global semiconductor market will surpass USD1 trillion by 2030.
Taiwan remains a key player, producing 60 percent of the world's chips with a size of 7 nanometers or smaller, and continues to be at the heart of the ongoing geopolitical tension between the US and China.
The remarkable expansion of the semiconductor sector is largely attributed to the growing demand for AI and high-performance computing, according to the International Data Corporation (IDC).
MENAFN28122024000045016755ID1109037626
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.