December 13, 2023 /SemiMedia/ -- According to the latest report from International Data Corporation (IDC), the semiconductor industry will usher in a new round of growth in 2024, driven by the explosive growth of global AI and HPC, and the rebound in demand for laptops, personal computers, smartphones, servers and automobiles.

After several years of decline in memory chips, production cuts will push up product prices. It is expected that memory chips will become a driving force for the growth of the semiconductor market in 2024. In addition, as demand gradually recovers and AI chips are in short supply, IDC expects that the semiconductor sales market will return to a growth trend in 2024, with an annual growth rate of 20%.

In terms of the IC design industry, IDC believes that driven by the incremental market of AI and automotive applications, there will be new growth opportunities. It is expected that the overall market annual growth will reach 14% in 2024.

In the wafer foundry industry, affected by market inventory adjustments, the capacity utilization rate in 2023 has dropped significantly. However, driven by the rebound in consumer electronics demand and the explosive demand for AI, 12-inch wafer fabs have slowly recovered in the second half of 2023. The global semiconductor wafer foundry industry is expected to grow at double digits in 2024.

In addition, IDC also predicts that the 2.5/3D packaging market will have a compound annual growth rate of 22% from 2023 to 2028.