China to be the World's Biggest Semiconductor Market in 2022
China will continue to lead the semiconductor market in 2022 despite US sanctions. Here are all the details.
According to a recent report from the Semiconductor Industry Association (SIA), global semiconductor sales are expected to reach $573.5 billion in 2022, up 3.2% from the previous year. The semiconductor market, which generates one-third of worldwide revenue, is still dominated by China. In addition, despite the ongoing US-China tech war and the global economic crisis, this represents the largest global sales the sector has ever posted.
According to John Neuffer, president and chief executive officer of SIA, the global semiconductor market saw considerable ups and downs in 2022, beginning with record-breaking revenues and ending with a cyclical depression.
China to be the World's Biggest Semiconductor Market in 2022
The long-term outlook for the semiconductor market remains incredibly strong due to the ever-increasing role that chips play in making the world smarter, more efficient, and better connected, he continued, despite short-term fluctuations in sales caused by market cyclicality and macroeconomic conditions.
What makes semiconductors so crucial?
One of the most significant technological advancements of the time is the semiconductor. Semiconductors are necessary for all of the main technological fields, including wired communication, consumer, industrial, automotive, and wireless communication, as well as computer and data storage. military and artificial intelligence developments
