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February 5, 2024

Podcast: Growth Ahead for Semiconductor Market – Insights at Industry Strategy Symposium 2024

With economic forces, semiconductor industry markets, and growth drivers key themes at Industry Strategy Symposium last month, Françoise von Trapp of 3D InCites caught up with Clark Tseng and Inna Skvortsova, members of the SEMI Market Intelligence Team (MIT), for a podcast at the executive conference in Half Moon Bay, Calif. to drill down into semiconductor industry trends in 2024.

Tseng, Senior Director of MIT, and Skvortsova, an MIT Market Research Analyst, recap key industry developments in 2023 before providing a look at what’s ahead as it begins to recover from a global economic downturn.

In her ISS 2024 presentation, Skvortsova highlighted the consensus forecast of 13.4% revenue growth to $584 billion for the global semiconductor industry this year after falling more than 10% to $515 billion in 2023. The industry is expected to post a healthy 10% Compound Annual Growth Rate (CAGR) through 2030 on its path to $1 trillion.

Key takeaways from her talk also included the following:

  • The wafer fab materials market is projected to grow more than 6% this year and surge another 14% in 2025 on its ascent to eclipsing $50 billion in revenue for the first time in 2026.
  • Annual silicon wafer shipments are expected to resume growth in 2024 with all regions forecast to log increases through 2026.
  • Geopolitics, the CHIPS Act and supply chain resiliency initiatives will drive shifts in global fab investment through 2026 as most regions increase spending.

In the podcast Tseng delves into how geopolitics and the CHIPS Acts are influencing the industry. Tseng and Skvortsova also discussed MIT’s vital support for the semiconductor industry as it passes through its ups and downs.




MIT provides reports across the electronic design; wafer fab; equipment; materials; and assembly, packaging and test markets to help microelectronics companies and other industry stakeholders with their day-to-day business decisions. 

For more information, please see SEMI Market Reports. To subscribe, contact

Samer Bahou is Director of Marketing Communications at SEMI.