In the third quarter of last year, the global semiconductor market grew by 17% compared to the same period the previous year, driven by demand for artificial intelligence (AI) memory.
According to market research firm Counterpoint Research on the 8th, the global semiconductor industry's sales revenue in the third quarter of 2024 recorded $158.2 billion, a 17% increase compared to the same period the previous year.
In the memory institutional sector, Samsung Electronics, SK Hynix, and Micron all increased their sales by double digits compared to the same period the previous year. Samsung Electronics' revenue grew by 18% year-on-year due to demand for AI and server memory, securing the top position in the global semiconductor market in terms of sales.
SK Hynix and Micron showed robust growth with year-on-year revenue growth rates of 94% and 93%, respectively, driven by demand for high-bandwidth memory (HBM). Nvidia, which has secured a dominant position in the graphics processing unit (GPU) market used for AI and high-performance computing, also saw its revenue surge by 94% compared to the same period the previous year.
In the third quarter, the market share was led by Samsung Electronics (12.9%), followed by SK Hynix (8.5%), Qualcomm (5.5%), Intel (5%), Micron (4.9%), Broadcom (4.7%), and Nvidia (4.4%).
Counterpoint Research noted that “the semiconductor market will be mainly driven by AI technologies, including servers, PCs, and smartphones,” but added that “the automotive semiconductor institutional sector may experience a slower recovery due to existing inventory adjustments and market difficulties.”