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Tuesday, May 14, 2024 10:50:56 AM
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Semiconductors are materials that have a small electronic bandgap. This bandgap prevents current from flowing at absolute zero, but thermally excited charge carriers can begin to flow at higher temperatures. Semiconductors, notably silicon, are at the heart of the modern microelectronics industry, and also have applications in light sources and detectors.
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Here are some facts:
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In 2022, the global semiconductor chip industry is expected to reach about US$600 billion. But while it’s still dwarfed by farming, oil, and gas—industries that are worth an annual US$10 trillion and US$5 trillion in revenue respectively—80% of the world’s food or fuel doesn’t come from a handful of manufacturers concentrated in a just a few countries.
Across multiple end markets, the absence of a single critical chip, often costing less than a dollar, can prevent the sale of a device worth tens of thousands of dollars. Based on our analysis, the chip shortage of the past two years resulted in revenue misses of more than US$500 billion worldwide between the semiconductor and its customer industries, with lost auto sales of more than US$210 billion in 2021 alone.
Over the long run, semiconductor revenues are likely to oscillate around a trend line. Still, that trend line looks steeper than ever before as we enter a period of robust secular growth.
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