In 2020, the global semiconductor market generated over USD 450 Bn revenue. About 60% of the growth was due to the strong demand for memory, GPUs, and 5G chipsets. However, following the COVID-19 pandemic, many factories shut their doors. As a result, chip manufacturers were unable to predict future chip supply orders for months. What ensued was a global chip shortage, which continues to get worse with the growing demand for consumer electronics.
Consider this: the scarcity of a nano-sized chip worth not more than 1-2% of a car’s entire BoM cost has caused the multi-billion-dollar automotive industry to falter. Netscribes estimates that the global chip shortage crisis could result in a loss of nearly eight million units of production in 2021. Meanwhile, the demand for semiconductor chips shows no signs of slowing down.
Based on our in-house market research expertise, we’ve put together key data and information to give you an overview of what the semiconductor chip shortage means for industries. Furthermore, it provides you with insights into where this crisis is headed. Download this whitepaper to find out: