May 14, 2025 /SemiMedia/ — Global semiconductor revenue rose 25% year-on-year to $683 billion in 2024, fueled by strong demand for AI chips and high bandwidth memory (HBM), according to research firm Omdia.
AI-related chipmakers, especially those producing memory components, climbed the revenue rankings, while suppliers of analog and power semiconductors saw their positions decline. Infineon Technologies and STMicroelectronics both fell out of the global top 10.
Samsung Electronics, SK Hynix, and Micron Technology were among the top seven semiconductor vendors, driven by rising HBM adoption in AI and data center markets. Their growth helped offset falling sales in automotive, industrial, and consumer segments.
“The industrial chip market typically grows around 6% annually, but after two years of strong gains, 2024 saw a double-digit decline,” said Cliff Leimbach, Principal Analyst at Omdia.
The automotive semiconductor market also contracted after rapid expansion from 2020 to 2023, highlighting a broader industry shift toward AI-centric applications.
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