Global Semiconductor Market Update Strong Growth in 2024 Q2 and Outlook
TapTechNews August 23rd news, the World Semiconductor Trade Statistics Organization (WSTS) released the latest report, stating that in the second quarter of 2024, the global semiconductor market achieved revenue of $149.9 billion (TapTechNews note: currently about 1.07 trillion Chinese yuan). It increased by 6.5% quarter-on-quarter and 18.3% year-on-year.
2024 Second Quarter Report
The report pointed out that compared to the first quarter of 2024, the revenues of major global semiconductor companies basically showed significant growth in the second quarter.
Among the top fifteen companies, only two companies (MediaTek and STMicroelectronics) saw a decline in revenue in the second quarter of 2024.
The most robust growth was in memory companies. SKHynix and Kioxia increased by more than 30% respectively, and Samsung Semiconductor increased by 23%, and Micron Technology increased by 17%.
Nvidia is reported to achieve revenue of $28 billion in the second quarter and continue to dominate the semiconductor industry, followed by Samsung (Samsung) with $20.7 billion. Although Broadcom has not disclosed data for the second quarter of 2024, it is expected to reach $13 billion, exceeding Intel's expected $12.8 billion.
Intel has historically been the leader in this industry, but has fallen to the fourth place this year.
Outlook
Looking forward to the third quarter of 2024, the revenue outlook remains optimistic. Driven by the strong performance in data centers and client computing, AMD expects revenue to increase by 15%.
Micron (Micron) expects that due to the supply continuing to lag behind the demand, the memory market will maintain a growth momentum of 12%. Although Samsung and SK Hynix did not provide specific forecasts, both companies expect the demand for server artificial intelligence to continue to grow.
In the first half of 2024, the semiconductor market increased significantly, growing by 18% compared to the same period in 2023, laying the foundation for strong growth throughout the year 2024.
The predictions for 2024 vary, with Cowan LRA predicting a growth of 14.4% and Statista Market Insights predicting a growth of 20.7%. The consistent growth expectation is 17.0%, very close to Gartner's 17.4% and WSTS's 16.0%.