PwC Predicts Trillion-Dollar Semiconductor Market by 2030
The global semiconductor market is projected to grow from $627 billion in 2024 to $1 trillion by 2030, according to consulting firm PricewaterhouseCoopers (PwC). The report states that this expansion will occur at an average annual growth rate of 8.6 percent, ANI reported.
The report notes that rising demand in artificial intelligence (AI), automotive, healthcare, and renewable energy sectors will serve as the primary drivers of this growth. Among the segments, server and network chips are expected to expand the fastest, with an annual growth rate of 11.6 percent. The demand for generative AI and high-performance computing will be key contributors to this surge.
Meanwhile, automotive semiconductors are forecast to grow at an annual rate of 10.7 percent, driven by the expansion of electric vehicles and autonomous technologies.
However, the report also cautioned that uncertainties remain in the supply chain due to “geopolitical tensions, export restrictions, and shifts in trade alliances.” At present, the United States leads in chip design, Asia dominates in production, while Southeast Asia is emerging as a new hub for packaging technology.
