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The global chip market may see a turnaround in 2024, with the semiconductor sales market recovering at a 20% annual growth rate. The growth drivers include the demand for AI and HPC, as well as smartphones, PCs, infrastructure, and automotive. Memory manufacturers’ control of supply and output has led to increasing prices. The semiconductor supply chain is expected to bid farewell to the downturn in 2023. Advancement in semiconductor technology will integrate more AI functions into personal devices, driving the demand for semiconductors. The automotive industry’s reliance on chips for automotive intelligence and electrification will be a long-term driver. ADAS and infotainment are key segments in the automotive semiconductor market.
