Omdia: Global semiconductor supply chain set to see growth in 2024 as GenAI demand increases

Omdia: Global semiconductor supply chain set to see growth in 2024 as GenAI demand increases

New research from Omdia has revealed that the global semiconductor supply chain is forecasted to reach approximately $600 billion by 2024, having navigated through strategic inventory adjustments in recent quarters. Encouragingly, the semiconductor industry anticipates a promising trajectory as enterprises increasingly harness generative AI capabilities, propelling fresh demand throughout the supply chain. The news comes as Omdia analysts prepare to present insights at Omdia’s Taiwan Technology Conference taking place in Taipei on April 17 and 18, 2024.

Since 2023, the global semiconductor industry has strategically adjusted inventories owing to the macroeconomic headwinds that have caused softer than expected demand and slower inventory adjustment. Simon Chen, Principal Analyst at Omdia, will share insights into the industry's resilience in managing inventory levels and revenue in 2024. As an integral part of the semiconductor supply chain, the pureplay foundry industry echoed the underlying tones of the semiconductor supply chain. Omdia forecasts that the pureplay foundry industry will grow by approximately 16% in 2024, due to gradual demand recovery and inventory completion from more and more applications.

Notably, recent advancements in generative AI technology have spurred significant interest among major tech players and enterprises, sparking heightened demand for AI chips. Omdia's research will explore key questions on the future landscape of AI acceleration technologies, beyond GPU dominance, and sheds light on the current and future competitive dynamics in the AI space at the upcoming Taiwan Technology Conference.

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