STATE OF THE U.S. SEMICONDUCTOR INDUSTRY - 2024 - Report

Sep 21, 2026

Uploaded by Anda

Annual industry analysis on how semiconductors underpin modern technologies and drive innovation across sectors. Covers 2023 market recovery after a cyclical downturn, investment momentum following the CHIPS and Science Act, and projected manufacturing capacity expansion through 2032. Examines workforce shortages, STEM pipeline needs, sustainability and supply-chain rebalancing, plus government actions on chip strategies, trade, geopolitics, demand drivers, market share, and U.S. technology competitiveness.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages33

Reading Time1 h 23 min

AccessFree to download

6 CHIPS IMPLEMENTATION

11 THE SEMICONDUCTOR WORKFORCE

13 EXPANDING THE TALENT PIPELINE

16 PROMOTING SUSTAINABILITY

17 SUPPLY CHAIN REBALANCING

19 GOVERNMENTS RACE TO DEVELOP CHIP STRATEGIES AND INCENTIVES

21 TRADE AND SEMICONDUCTORS

22 GEOPOLITICS AND THE SEMICONDUCTOR INDUSTRY

23 THE GLOBAL SEMICONDUCTOR MARKET

24 SEMICONDUCTOR DEMAND DRIVERS

27 GLOBAL MARKET SHARE

28 U.S. TECHNOLOGY COMPETITIVENESS

30 U.S. SEMICONDUCTOR INDUSTRY DOMESTIC ECONOMIC CONTRIBUTION

31 U.S. SEMICONDUCTOR INNOVATION POLICY LANDSCAPE

STATE OF THE U.S. SEMICONDUCTOR INDUSTRY 2024 2024 STATE OF THE U SEMICONDUCTOR INDUSTRY 2 6 CHIPS IMPLEMENTATION 11 THE SEMICONDUCTOR WORKFORCE 13 EXPANDING THE TALENT PIPELINE 16 PROMOTING SUSTAINABILITY 17 SUPPLY CHAIN REBALANCING 19 GOVERNMENTS RACE TO DEVELOP CHIP STRATEGIES AND INCENTIVES 21 TRADE AND SEMICONDUCTORS 22 GEOPOLITICS AND THE SEMICONDUCTOR INDUSTRY 23 THE GLOBAL SEMICONDUCTOR MARKET 24 SEMICONDUCTOR DEMAND DRIVERS 27 GLOBAL MARKET SHARE 28 U.S. TECHNOLOGY COMPETITIVENESS 30 U.S. SEMICONDUCTOR INDUSTRY DOMESTIC ECONOMIC CONTRIBUTION 31 U.S. SEMICONDUCTOR INNOVATION POLICY LANDSCAPE SEMICONDUCTORS — THE CHIPS THAT ENABLE VIRTUALLY ALL MODERN TECHNOLOGIES —are one of the most transformative inventions in all of human history. Thanks to groundbreaking advancements in semiconductor research, design, and manufacturing over the last 65 years, modern chips can have up to tens of billions of transistors on a small slice of silicon. The rapid pace of semiconductor innovation has made the world smarter, healthier, greener, and better connected. And chips are powering the transformative technologies of tomorrow, including artificial intelligence, autonomous driving and electric vehicles, and advanced wireless networks. In 2023, despite a cyclical market downturn that lingered early in the year, global sales rebounded the second half of the year to reach $527 billion. Nearly 1 trillion semiconductors were sold globally, more than 100 chips for every person on earth. With the downturn now over and demand for semiconductors high, industry analysts project double-digit annual growth in 2024. Rising demand has also prompted new industry investments to increase chip production. Thanks in part to the landmark CHIPS and Science Act, the United States is forecast to secure a larger share of new private investment in semiconductor manufacturing. In fact, as of August 2024, companies in the semiconductor ecosystem had announced more than 90 new manufacturing projects in the U.S. since CHIPS was first introduced in Congress, totaling nearly $450 billion in announced investments across 28 states. These investments are projected to create tens of thousands of direct jobs and support hundreds of thousands of additional jobs throughout the U.S. economy. The industry is also making investments in countries around the world, creating a resilient supply chain. In the decade following CHIPS enactment (2022 to 2032), the United States is projected to more than triple its semiconductor manufacturing capacity — the highest rate of growth in the world during that period — according to a May 2024 SIA-Boston Consulting Group report. The report also forecasts the U.S. will grow its share of advanced (less than 10nm) chip manufacturing to 28% of global capacity by 2032 and capture 28% of total global capital expenditures (capex) from 2024 to 2032. By comparison, in the absence of the CHIPS Act, the report estimates the U.S. would have captured only 9% of global capex by 2032. Reinforcing chip supply chains on U.S. shores offers tremendous opportunities, but it also presents significant challenges. For example, as U.S. chip operations expand in the years ahead, so too will demand for skilled talent. A 2023 SIA-Oxford Economics study projected a shortfall of 67,000 technicians, computer scientists, and engineers in the semiconductor industry by 2030 and a gap of 1.4 million such workers throughout the broader U.S. economy. For the semiconductor industry to grow and innovate at its full potential, and for domestic investment projections to be fully realized, government leaders must advance policies that build on our industry’s longstanding workforce development efforts, expand the pipeline of STEM graduates in America, and retain and attract more of the top engineers and scientists from around the world. Policy action is needed in other areas as well if we are to build on our current momentum. The U

FAQs

What does the report say about 2023 semiconductor sales and market recovery?

Global sales rebounded in the second half of 2023 after a cyclical downturn, reaching $527 billion, and nearly 1 trillion semiconductors were sold globally. The report notes projected double-digit annual growth in 2024 as demand remains high.

How does the CHIPS and Science Act influence U.S. semiconductor investment and manufacturing capacity?

The report links new private manufacturing projects and announced investments to the CHIPS and Science Act. It forecasts the U.S. can more than triple semiconductor manufacturing capacity by 2032 and increase its share of advanced chip manufacturing and global capex.

What workforce challenges does the report highlight for semiconductor growth?

It cites projected shortages of technicians, computer scientists, and engineers by 2030, along with a broader employment gap across the U.S. economy. The report calls for policies to build talent pipelines, expand STEM graduate capacity, and retain and attract top engineers and scientists.

Sep 21, 2026

Uploaded by Anda