Published: 23 January 2024
Following an 11.1% decline in 2023 to $533.0 billion, global semiconductor revenues will recover with a substantial growth of 18.2% in 2024. Memory will outperform the overall market at 73.2% growth, while nonmemory segments will grow at 7.0% in 2024.
After an oversupply for most of 2023, memory devices will remain undersupplied throughout 2024, with prices increasing almost 50% after declining by nearly half in 2023.
Average smartphone lifetime will settle around four years, declining by one month in 2024 vs. 2023. The decline will happen for the first time since 2021.
By 2027, 37% of the smartphone installed base will have dedicated support for generative AI (GenAI), up from 0% in 2023.
Memory will lead the market rebound in 2024 and 2025, with 73.2% and 30.6% growth in revenue, respectively, crossing $200 billion in 2025.
The semiconductor revenue
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Analysts:
Rajeev Rajput, Jon Erensen, Shrish Pant, Joseph Unsworth, Alan Priestley, Roger Sheng
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