To keep up with the diverse customer demands, speed to market, and business diversification, semiconductor manufacturers are capitalizing on advanced technologies, including AI, 5G, and IoT.
FREMONT, CA: The semiconductor industry has long been considered as one of the most significant contributors to global technological developments. Driven by several top semiconductor industry trends, the industry is expected to continue its growth in the coming years too. Here is a list of top trends contributing to the developments in the semiconductor industry.
Arrival of 5G Communications
As the world is entering the new world of 5G technology, the global semiconductor industry is expected to experience a considerable impact. According to the latest reports, the global 5G equipment market size will grow by 16.28 billion dollars from 2019 to 2023. Since 5G will be able to transmit over ten times the data rates than 4G, semiconductors will have to meet the new requirement to manage the data generated in the 5G ecosystem. Therefore, 5G semiconductor manufacturers are expected to enhance product capabilities in servers, storage, and mobile devices.
Mass Adoption of Artificial Intelligence
The mass adoption of AI technology is another topmost among semiconductor industry trends. The rising demand for AI chips and AI-powered applications across different industries will set to bring more growth opportunities for semiconductor chip manufacturing companies in the market. By implementing AI technology, semiconductor manufacturing companies will be able to improve operations by speeding up the production process, reducing production costs, and increasing product performance.
Development of Autonomous Cars
The significant impact of the semiconductor industry will be the fast development of autonomous vehicles. As the requirement for electronic components used in autonomous vehicles for safety, infotainment, navigation, and fuel efficiency will increase, and the demand for automotive semiconductors to support increased connectivity, battery performance, and other technologies are also expected to see a huge leap.
Evolution of Internet of Things
The advancement of IoT is among the top drivers for the global semiconductor industry. With more advanced IoT products launched in the market, it is set to offer more diversified opportunities to semiconductor companies. The industrial applications of IoT are also projected to boost the demand for semiconductor chips on a more massive scale.