“Global chip sales to grow by 13%” - Increased demand for “AI” outweighed the difficulties the market faced in 2023
Rising demand for artificial intelligence and a robust automotive market will help drive a rebound in global chip sales this year, according to annual data from an industry group.
The Semiconductor Industry Association (SIA) predicted a 13.1% increase in global chip sales to $595.3 billion, compared to a decline of about 8% in 2023.
"Artificial intelligence is a very strong market," sector analysts explain. Despite a slow start to the year for car chips, this part of the market is still expected to grow by 6%.
Last year, weak demand for computers and smartphones punished chipmakers like Intel and Qualcomm, contributing in part to a 1.1% increase in sales of "logic" chips to $178.5 billion.
But this year, the race among tech giants to offer products and services that use artificial intelligence has driven a surge in demand for advanced chips made by Nvidia, as cloud companies look to build more capacity to run such software.
Artificial intelligence applications require large numbers of graphics processing units (GPUs) connected together, and many other types of chips around them to achieve the necessary performance. Innovative technology systems need massive amounts of memory and fast network processors to move data between them.
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