Press Release

Navigating Trends and Transformations in the Global Semiconductor Industry Outlook by 2024



(EMAILWIRE.COM, December 13, 2023 ) The Global Semiconductor Industry Outlook for 2024 is set to furnish projections on the semiconductor industry’s performance, encompassing discrete semiconductors, optoelectronics, sensors, and integrated circuits, including analog, micro, logic, and memory. To achieve this, the report will analyze the industry’s 2023 performance compared to 2022, highlighting pivotal developments in the semiconductor landscape during 2023. Furthermore, it will delve into the key trends in 2024 that are poised to influence the semiconductor industry, encompassing macro-economic shifts, global industry-agnostic trends, and industry-specific developments. These identified trends will serve as the driving forces and constraints shaping the semiconductor industry’s trajectory in 2024. Drawing insights from historical performance and the anticipated impact of these trends, the report will formulate forecasts for the semiconductor industry in 2024.

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The report offers a wealth of information about the semiconductor industry, such as:


Co-packaged Optics (CPO) is the next frontier. It is a technology that integrates optical and electronic components into a single package. The massive internet traffic growth has led tech giants to focus on research & development activities targeting advancements in the 6G networks. CPO technology holds promise for 6G networks, creating significant market opportunities for the silicon industry and optical transceiver suppliers.

Enterprises such as Intel Corporation, AMD, Apple Inc., Marvell, and IBM have brought implementations of chiplet to the market. The chiplet introduced to the market has predominantly been of the in-house, proprietary variety. In such solutions, all the chips are sourced from a single vendor, utilizing either in-house intellectual property (IP) or that of a manufacturing partner. Standards bodies are already developing open-source models which aim to simplify the design and manufacturing of multi-chip systems by providing a common interface for chiplet from different vendors. Thus, the developments around chiplet technology are expected to bring the next wave of Moore’s Law.

Next-generation memory devices such as Magnetoresistive Random-access Memory (MRAM), Phase Change Memory (PCM), and Resistive RAM (ReRAM) are taking center stage. The rising demand for next-generation memory technologies for enterprise storage applications and the surging adoption of these emerging memory technologies across smartphones and smart wearables are expected to drive market growth.

The increasing demand for AI applications in cloud computing data centers has fueled significant growth in the AI Chip market. GPUs currently dominate AI training workloads but are expected to face stiff competition from specialized ASICs. In 2023, the training market was primarily dominated by GPUs; however, we see an increasing role of ASICs in training and inference in years to come, with GPUs likely becoming more specialized for deep learning tasks. FPGAs will play a minor role in training, primarily for specific data center needs like rapid prototyping.


Quantum computing is rapidly evolving, with tech giants racing to build the most powerful machines. This race is driven by the potential of quantum computing to revolutionize various fields, including medicine, materials science, and artificial intelligence. 2024 will be the breakthrough year for quantum computing commercialization.

The DRAM (Dynamic Random-Access Memory) market is currently dominated by a few major players. This has led to concerns about price stability and the potential for market manipulation. However, the recent entry of Chinese state-owned DRAM players has the potential to disrupt the market and bring about more competition.

The semiconductor industry is rapidly shifting, with leading fabrication players (fabs) aggressively implementing advanced process nodes. This is driven by the ever-increasing demand for more powerful and efficient chips, fueled by the growth of artificial intelligence (AI), high-performance computing (HPC), and other data-intensive applications.

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The MarketsandMarkets – Global Semiconductor Industry Outlook 2024 report can help prepare semiconductor professionals and business leaders for the year ahead. The report incorporates years of experience in the rapidly expanding semiconductor sector, the opinions of industry experts, comprehensive evaluations by analysts, and extensive interviews with stakeholder groups worldwide.

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