According to a report from the Semiconductor Industry Association, global semiconductor sales reached a record high of $574 billion in 2022, up 3.3% from 2021, despite a cyclical downturn in the semiconductor market in the second half of 2022. 

Two-thirds of semiconductor sales have long been contributed primarily by the PC/computer and communications end markets, while applications such as automotive, industrial and consumer electronics account for only one-third. However, according to the report, the 2022 semiconductor application survey conducted by WSTS (World Semiconductor Trade Statistics) shows that in 2022 the semiconductor sales share of each application market has changed. PC/computer and communication terminals still occupy the largest share of semiconductor sales, but the gap ahead of other applications has narrowed, automotive and industrial become the largest share of the increase in 2022 application categories .

The report notes that, according to McKinsey's analysis, 2021-2030, the automotive and industrial market demand for semiconductors at a compound annual growth rate of 14% and 12%, respectively. While other applications during this period, the compound annual growth rate of less than 10%, automotive and industrial will become an important driver of semiconductor demand growth.

Despite the current short-term downturn in the global semiconductor market, but in the long term, chip demand is expected to show strong growth trend. Sources said that the U.S. semiconductor industry will enhance the local semiconductor manufacturing capacity through more than $ 200 billion of private investment.