The global semiconductor devices industry registered a 6.9% decline in 2023 after a 3.5% slowdown in growth in 2022. Growth in 2023 was attributed to the industrial and automotive landscapes capitalizing on the electric vehicle (EV), connected, autonomous, shared, and electric (CASE), and digital transformation efforts. Future growth will be driven by the technology convergence of connectivity and AI/machine learning, which will be the core of product development activities across all verticals.

Increased 5G deployment, the rising adoption of AI smartphones and AI PCs, greater electronics content in automotive, the migration to EVs, factory automation, and the proliferation of Internet of Things (IoT) devices in smart homes are key megatrends that will also drive future growth. Smartphones and PCs, traditionally viewed as key indicators of semiconductor industry performance, will not remain the sole indicators going forward.

• How can you capitalize on the rising adoption of AI smartphones and AI PCs, increased 5G deployment, and the migration to EVs and autonomous vehicles (AVs) to accelerate growth in semiconductor devices?
• What strategies can semiconductor companies implement to overcome the challenges of geopolitical chaos and skills shortages?
• What key strategies can your team adopt to stay ahead of emerging applications such as AI, 5G/6G, IoT, and connected cars to drive growth?