Despite the influences from the negative economic factors and geopolitics in 2023, the global semiconductor market is expected to enjoy a recovery in 2024 as the worst is expected to have already passed, and Taiwan should see its semiconductor industry benefit according to the estimation of TSMC and several research firms.
TSMC has recently pointed out that the IC design industry's inventory digestion will last into the fourth quarter. However, its operation should grow healthily in 2024 with demand for PCs and handsets starting to stabilize and that for AI surging.
However, economic uncertainties will continue to undermine consumers' willingness to spend in 2024, while geopolitics and the global economy will play a key role in influencing the foundry industry's development in the next five years, making the US semiconductor sanctions on China a must-watch.
DIGITIMES Asia Research forecasts that global foundry revenues will enjoy a compound annual growth rate (CAGR) of 11.3% for the period from 2023-2028, driven by demand for applications including 5G and EVs and the availability of newly expanded mature and advanced capacities
Industrial Technology Research Institute is also optimistic about the global semiconductor market returning on a growth track in 2024 with overall revenues to break US$600 billion in the year and over US$700 billion in 2025, thanks primarily to auto semiconductor demand.
Global semiconductor market to recover in 2024; Taiwan to benefit
Despite the influences from the negative economic factors and geopolitics in 2023, the global semiconductor market is expected to enjoy a recovery in 2024 as the worst is expected to have already passed, and Taiwan should see its semiconductor industry benefit according to the estimation of TSMC...
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