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The 2021 Semiconductor Shortage
With the adoption of 5G devices and other new technologies, chips have been in high demand.
While pandemic-induced shutdowns have hampered supply, the demand for chips has continued surging with reopening economies. The resulting chip shortage has rattled several industries with lead times—the gap between when a semiconductor is ordered and when it is delivered is at a record high of 22 weeks.
The chip shortage is a boon to semiconductor companies, but downstream firms are struggling. Global automakers are set to make 7.7 million fewer cars in 2021, which translates into a $210 billion hit to their revenues. Consumer electronics have taken a blow as well, with popular products like the Playstation 5 console in short supply.
New chip factories take years to build, in addition to billions of dollars. With many analysts expecting the shortage to last through 2023, it’ll be interesting to see how chipmakers respond, especially if demand continues to rise.
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