Taiwan’s semiconductor industry is expected to reach a record high of US$146.1 billion in 2024, a 14.1% increase from the previous year.
The growth, driven by demand for AI and high-performance computing applications, is part of a global trend with the semiconductor production value rising to US$580.9 billion.
Despite a predicted 12% decline in the global chip foundry sector in 2023, Taiwan’s chip foundry sector is set to grow by 14.7% in 2024, largely due to demand for advanced 3-nanometer chips.
The domestic IC design industry in Taiwan, holding the world’s second-largest market share, is expected to rebound with significant growth in 2024.
