According to Opportunities for the Global Semiconductor Market survey released by PwC Taiwan, despite the relatively weak 2019, the global semiconductor industry is expected to recover in 2020, and sales will grow to $575 billion by the end of 2022.

PwC said that the semiconductor industry is a pioneer in the digitalization process, but it is now being caught up by other industries, especially the automotive industry. Therefore, PwC puts forward three suggestions for the semiconductor industry. First, semiconductor manufacturers must think about how to take advantage of digitalization, and among the many possibilities, which one is most meaningful to the organization.

The second is to launch a new business model. In addition to providing chips, semiconductor companies must find new ways to convert new technologies into profits. In addition to selling chips, semiconductor companies must use these technologies to develop new business models.

Third, when chip manufacturers think about how to pursue the greatest degree of digitalization, they need to carefully weigh the following three strategies: 1. Provide digital products and services; 2. Create digital business models; 3. Create semiconductor digital value chains; All three strategies should be backed by strong data and analysis.

Taiwan is an important player in the global semiconductor industry, and global semiconductor output is currently ranked third. With the advent of AI, the Internet of Things and the 5G application era, the kinetic energy for innovation in IC chips is also growing. At the same time, global high-tech giants are expected to start mass production of 3nm wafers in 2022. PwC recommends that Taiwanese companies prepare for new challenges as soon as possible.