The global semiconductor market size in 2024 will increase by 18% from 2023 to US$626 billion. The growing demand for AI and generative AI workloads will cause data centers to become the second largest semiconductor market after smartphones in 2024. Data center semiconductor revenue will total US$112 billion in 2024, up from US$64.8 billion in 2023.
11 suppliers achieved double-digit growth, and only eight of the top 25 semiconductor suppliers saw revenue declines in 2024. Samsung Electronics regained the top spot from Intel, driven by a strong rebound in memory device prices. Nvidia continued to perform well, with semiconductor revenue increasing 84% in 2024 to a total of $46 billion, moving up to third place.
