Synopsis
In 2024, global semiconductor revenue soared to $655.9 billion, marking a 21% increase from the previous year. Nvidia has emerged as the leading vendor, surpassing Samsung and Intel, fueled by the growing demand for AI infrastructure.Key Takeaways
- Global semiconductor revenue grew to $655.9 billion.
- Nvidia surpassed Samsung and Intel to become number 1.
- Memory revenue increased by 73.4 percent.
- India's semiconductor market projected to reach $100-110 billion by 2030.
- Automotive and industrial electronics are key growth sectors.
New Delhi, April 11 (NationPress) The global semiconductor market achieved a revenue of $655.9 billion in 2024, marking a significant increase of 21 percent from $542.1 billion in 2023, as per a report published on Friday.
Market intelligence firm Gartner revealed that Nvidia has ascended to the top position, surpassing both Samsung Electronics and Intel for the first time.
According to Gaurav Gupta, VP Analyst at Gartner, this shift in ranking among the top 10 semiconductor vendors is attributed to a surge in demand for AI infrastructure and a remarkable increase of 73.4 percent in memory revenue.
Nvidia's rise to the pinnacle is largely due to the heightened demand for its discrete graphic processing units (GPUs), which have become the preferred choice for AI workloads in data centers.
Samsung Electronics maintained its position at number 2, benefiting from improvements in both DRAM and flash memory as prices rebounded sharply following a supply-demand imbalance.
Intel's revenue saw a modest growth of 0.8 percent in 2024; however, it faced intense competitive pressures across all product lines and could not capitalize on the robust demand for AI processing, as noted by Gupta.
In addition, approximately 20 percent of the semiconductor design workforce is located in India, where chip demand, currently between $45-50 billion, is projected to reach $100-110 billion by 2030.
Thanks to the government's production-linked incentive (PLI) scheme, India's semiconductor consumption market, valued at $52 billion for 2024-25, is expected to expand at a healthy CAGR of 13 percent through 2030.
Key sectors such as automotive and industrial electronics offer substantial value-add opportunities. Mobile handsets, IT, and industrial applications collectively account for nearly 70 percent of the revenue and remain the primary growth drivers, according to the Indian Electronics and Semiconductor Association (IESA).
