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What’s driving the semiconductor market

With chip demand set to rise over the coming decade, the global semiconductor industry is poised to become a trillion-dollar industry by 2030. About 70 percent of growth is predicted to be driven by the automotive (particularly electric vehicles), data storage, and wireless industries.

The overall growth in the global semiconductor market is driven by the automotive, data storage, and wireless industries.

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The image is in two parts. The first part is of two segmented bar charts for 2021 and 2030 showing the size of the global semiconductor market in billions of dollars, broken into six segments. The six segments are computing and data storage, wireless communication, automotive electronics, industrial electronics, consumer electronics, and wired communications. In 2021 the total was $590 billion, and in 2030 it is projected to be $1,065 billion, a compound annual growth rate of around 7%.

A second graph shows each individual segment’s share of the growth as a percentage of the total growth from 2021 to 2030.

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To read the article, see “The semiconductor decade: A trillion-dollar industry,” April 1, 2022.