Semiconductor industry is expected to increase to $600 billion by 2022, according to reports

Semiconductor industry is expected to increase to $600 billion by 2022, according to reports ...

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Despite chip shortages and a slowed growth in 2022, Deloitte has predicted that companies will reach significant revenue highs.

The next year, there are four key factors expected to shape the industry. First, chips are expected to be more important than ever, with increased semiconductor content in everything from cars to appliances to factories, as well as the usual products such as computers, data centers, and smartphones.

Second, will be front and center for the first half of 2022, and will hopefully ease by the second half. However, there will be longer lead times for some components, which might be extended till 2023.

Third, there will be a problem in the industry that wont be resolved quickly. Building more local chip manufacturing plants in the United States, China, Singapore, and other countries will ultimately form a larger and deeper talent pool.

Nearly three out of five chip companies have begun their digital transformation journey, yet more than half of those are tweaking their transformation process as they progress, in response to various pressures.

In 2022, the industry will continue to grow, even as it takes steps to address chip shortages, manage lead times with suppliers and end customers, increase manufacturing capacity locally or nearshore, hire specialized engineering and design talent, and expand its supply networks.

Deloitte's semiconductor industry vision for 2022 seeks to identify the strategic issues and opportunities for semiconductor companies to consider in the coming year, including their impacts, key steps to take, and critical questions to ask.

Read the book by Deloitte.

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