Global Semiconductor Market Shows Significant Rebound in 2024

Global Semiconductor Market Shows Significant Rebound in 2024

Elena Chen
2 min read

Global Semiconductor Market Shows Strong Recovery in 2024

The global semiconductor market is experiencing significant growth in 2024, with the market size expected to increase by 16% compared to the previous year. According to data from the General Administration of Customs, the export value of integrated circuits from China reached approximately $62.613 billion in the first five months of 2024, representing a 21.2% year-on-year growth. In May alone, the export value reached $12.634 billion, reflecting a 28.47% increase. Additionally, the overall export of electronic information products has continued to grow, with varying degrees of increase in the export value of computers and their components, household appliances, audio and video equipment and their parts, and LCD display modules. This trend signifies a robust recovery in the semiconductor and related industries.

Key Takeaways

  • The global semiconductor market is expected to grow by 16% in 2024.
  • China's export of integrated circuits has increased by 21.2% in the first five months.
  • The overall export of electronic information products has increased, with a 6.1% growth in computer and component exports.
  • The export values of household appliances, audio and video equipment, and LCD display modules have grown by 14%, 5.6%, and 11.4% respectively.
  • The export value of mobile phones has decreased by 5.9% year-on-year.


The robust recovery of the global semiconductor market is primarily attributed to technological innovation and growing demand, especially the surge in exports to the Chinese market. In the short term, this will bring significant profits to semiconductor manufacturers and related electronic product exporters, enhancing their market competitiveness. In the long run, this growth trend may attract more investments into the industry, driving technological advancement and industrial upgrades. However, the decline in mobile phone exports may indicate market saturation or shifts in consumer preferences, necessitating strategic adjustments by companies. Overall, the prosperity of the semiconductor and related industries will promote global economic and technological development, but vigilance is required against market fluctuations and intensified competition risks.

Did You Know?

  • Integrated Circuits (ICs): Integrated circuits are the core components of modern electronic devices, integrating multiple electronic elements (such as transistors, resistors, capacitors, etc.) onto a single semiconductor substrate to achieve complex functionalities. This integration technology greatly reduces the size of electronic devices while enhancing performance and reliability.
  • LCD Display Modules: LCD display modules are devices that utilize the optical properties of liquid crystal materials to display images. They consist of a liquid crystal layer, a light source (typically LED or CCFL), control circuits, and a casing. LCD display technology is widely used in televisions, computer monitors, smartphone screens, and more.
  • Electronic Information Products: Electronic information products are manufactured using electronic and information technologies, including computers, communication equipment, consumer electronics, and more. These products typically feature functions such as data processing, storage, transmission, and display—a vital infrastructure in modern information society.

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