Asia Express - East Asian ICT
SEMI: Semiconductor Production Value to Exceed US$1 Trillion by 2030
September 12, 2023

SEMI recently announced its prediction that the global semiconductor production value will surpass US$1 trillion by the year 2030, as reported by the Commercial Times on September 6. This projection is driven by the escalating demand for chips, fueled by emerging technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI). SEMI plays a pivotal role in this growth by offering an array of systems and wafer manufacturing platforms to chip manufacturers, including TSMC, Samsung, and Intel. Given that traditional gasoline-powered vehicles typically use around 100 chips, while the latest electric vehicles incorporate as many as 7,000 chips, the demand for chips is expected to continue expanding. 

Following an expected period of restrained growth in 2023, the global semiconductor market's value is projected to reach US$576 billion in 2024, up 11.8% year-on-year, as reported by MIC (Market Intelligence & Consulting Institute). Established in 1987, MIC is a division of the III (Institute for Information Industry), a prominent government think tank and one of the leading IT research institutes in the Asia Pacific region.