Global semiconductor sales reached a new high of $574 billion in 2022 with the largest growth coming in the automotive and industrial sectors, according to new data from the Semiconductor Industry Association (SIA).
Sales in 2022 were 3.3% over 2021.
According to the SIA, PC/computer and communication end markets have accounted for about two-thirds of overall sales with automotive, industrial and consumer electronics accounting for the remainder.
While the PC/computer and communication markets still accounted for the largest share of semiconductor sales in 2022, automotive and industrial applications had the largest growth for the year, according to SIA data.
Growth continues to rise
According to SIA data, the automotive and industrial sectors will represent 14% and 12% of the average growth in chip sales by 2030, respectively. This will drive demand growth through the decade.
Despite the current downturn, the global chip market and demand for chips long term is expected to show high growth, SIA said. Because of this, the industry has committed to expanding manufacturing capacity through private investments.
So far, the SIA has tracked more than $200 billion so far in the U.S. alone being dedicated to semiconductor manufacturing. Some of these projects have already started breaking ground and some construction activities are expected to start as early as the end of 2024. Other projects will begin construction in 2023. In total, announced projects include the construction of 23 new chip fabs and expansion of nine fabs.
