Despite facing a shortage in supply, the semiconductor industry accumulated $500 billion in revenue in 2021.
This signifies a 25.1% growth in revenue. According to Gartner, this was possible due to demand outpacing supply causing a major rise in the price of the products.
The shortage is expected to continue till mid-2023 although some companies are stabilizing production already.
Areas that recorded massive price growth due to shortage in supply include the automotive industry, mobile phones, and others.
Based on revenue, Samsung took the top spot in the semiconductor industry, a position previously occupied by Intel. While Samsung recorded a 31.6% revenue growth between 2020 and 2021, Intel recorded 0.5% revenue growth within the same period. Samsung recorded a 50% rise in profit due to increasing chip and mobile devices sale.