In 023, under the adjustment of "destocking", the global semiconductor market will be "miserably corrected", and the turnover will decline to US$526.9 billion, a decrease of 8.2% from US$574.1 billion in 2022.

This year, the semiconductor market has almost completed the destocking of the supply chain, coupled with the vigorous development of "generative" AI, which has driven the semiconductor market demand to grow significantly, 

and the global semiconductor market will resume growth.

It is estimated that the global semiconductor turnover will grow to US$611.2 billion in 2024, an increase of 16% over 2023, setting a record high in the semiconductor market turnover.

Memory Market: Estimated to grow 76.8% annually

According to the United States "Semiconductor Association (SIA)", in the first half of this year, the global semiconductor market turnover reached 286.02 billion US dollars, an increase of 17.3% compared with 243.78 billion US 

dollars in the first half of 2023, and the signs of recovery of the semiconductor industry are very obvious.

The most severe recession in the semiconductor market in 2023 is the memory market, which will decline from $129.77 billion in 2022 to $92.29 billion, with an annual decline of 28.9%.

This year, driven by artificial intelligence, the memory market will rebound strongly, and the market turnover is estimated to reach US$163.153 billion, a significant increase of 76.8% from 2023.

Logic IC Market: Expected to grow by 10.7% annually

The memory market is greatly affected by the boom, with big ups and downs, compared to the relatively stable market for "logic IC".

In 2023, the global logic IC market turnover will reach US$178.59 billion, a slight increase of 1.1% from US$176.58 billion in 2022.

The rise of "generative AI" in 2023 and the active entry of global tech giants into this market have caused Nvidia's GPU supply to exceed demand, pushing the logic IC market to avoid recession under the pressure of "destocking".

It is estimated that the logic IC market will still grow this year, and the turnover will increase by 10.7% to $196.76 billion.

Analog IC Market: -2.7% YoY Growth Forecast

The analog IC market will have a turnover of $81.23 billion in 2023, down 8.7% from $88.98 billion in 2022 and comparable to the decline in the overall semiconductor market. The main reason is that the supply chain inventory is too high.

This year, the analog IC market is still under the pressure of destocking, and the market turnover will decline slightly by 2.7%, falling to $79.06 billion.

Microcontrol components: 1.6% year-on-year growth expected

The market revenue of "microcomponents", which includes microprocessors, microcontrollers and digital signal processors (DSPs), reached US$76.34 billion in 2023, down 3.5% from US$79.07 billion in 2022. With the slight growth of 

the PC market, the microcontrol components market will grow by 1.6% to $77.59 billion this year.

TSMC's revenue is expected to increase by 30% year-on-year, a record high

TSMC is the world's leading wafer foundry, and its revenue performance can see the trend of the semiconductor market. In July this year, TSMC's turnover reached NT$256.953 billion, a record high in a single month, and the cumulative 

turnover from January to July reached NT$1.523107 trillion, with an annual growth rate of 30.5%.

TSMC's turnover is estimated to reach about NT$2.8102 trillion this year, an annual increase of 30% and a record high. TSMC can have such a brilliant performance, mainly due to the advanced process ahead of competitors such as 

Samsung Electronics and Intel, including Apple, Nvidia, AMD, MediaTek, Broadcom and other IC design companies. Even potential competitor Intel has placed orders with TSMC.

TSMC's advanced processes below 7nm account for a high proportion of revenue, as high as 67% in the second quarter of this year, and advanced processes are the main driving force for TSMC's growth.

Outlook 2025: Global semiconductor market is expected to grow by 12.5% annually

Compared with TSMC's annual growth rate of 30.5% in the first seven months, the performance of UMC, PSMC and VIS is not so bright.

UMC's cumulative turnover from January to July this year was NT$132.328 billion, with an annual growth rate of 2.13%.

PSMC's cumulative turnover from January to July this year was NT$25.747 billion, with an annual growth rate of -0.55%.

VIS had a cumulative turnover of NT$24.255 billion from January to July this year, with an annual growth rate of 12.09%.

From the perspective of turnover, TSMC's turnover from January to July this year was about 11.5 times that of UMC, 59.1 times that of PSMC, and 62.8 times that of the world's advanced.

TSMC's ability to significantly lead its counterparts in Taiwan in terms of turnover is mainly due to the world's leading advanced manufacturing process in technology and production capacity. The global semiconductor market is expected 

to continue to grow at a double-digit rate in 2025, with an estimated turnover of $687.4 billion in 2025, with an annual growth rate of 12.5%.

TechInsights: The automotive semiconductor market will nearly double by 2030

Market research firm TechInsights released a report this afternoon titled "Sustainable xEV Networks: Opportunities for the Semiconductor Industry."

According to the report, baseline growth projections for battery electric vehicles (BEVs) show that the automotive semiconductor market will nearly double by 2030. Even in the hypothetical scenario of a declining BEV market, the demand 

for semiconductors will increase significantly, driven by the increasing complexity and evolution of peripheral systems such as ADAS and infotainment systems.

By far the largest market for electric vehicles (EVs) has been concentrated in high-income countries, with Norway standing out as a success story. According to the report, this appears to be at odds with the oft-cited concerns about the 

relatively poor performance of electric vehicles in cold climates.

However, more than 80% of new car sales in Norway today are electric vehicles. It is followed by Sweden with 60%, while China is close with 37% of electric vehicle sales (data from the Passenger Association on August 7 showed that 

retail sales of new energy vehicles accounted for 50.84% in July 2024).

TechInsights predicts that China will maintain its position as the world's largest EV market until 2030, doubling annual production to nearly 60 million units.

Previously, IDC, another organization, also predicted in a report that by 2027, the global automotive semiconductor market size will exceed 88 billion US dollars (currently about 628.572 billion yuan). With the continuous growth of the 

value of bicycle-to-vehicle semiconductors, the attention and importance of semiconductor companies in the automotive industry chain have been further enhanced.