The global semiconductor market is projected to reach a value of US$515 billion in 2023 and is expected to continue growing in 2024. Building on the strong growth witnessed in 2021 in IC design, IC manufacturing, and IC packaging and testing (OSAT), Taiwan's semiconductor industry demonstrated remarkable double-digit expansion in 2022, outperforming the global average. However, the industry is likely to face various degrees of adjustment in 2023, with shipment value predicted to exceed NT$3.85 trillion (US$125 billion). This report offers an outlook on the global semiconductor market forecast for the period 2023-2024, explores Taiwan's position in the semiconductor industry supply chains, and delves into the progress of three major semiconductor industry sectors: IC design, IC manufacturing, and IC packaging and testing (OSAT). Additionally, the report includes a top-10 company ranking for each sector.