Adrian JohnsonTLDR:
- Deloitte’s joint survey with The Global Semiconductor Alliance (GSA) in Asia provides insights on industry trends.
- In 2024, the global semiconductor market is forecasted to surge by 13.1% due to demand recovery from downstream and growth in AI products.
Deloitte and GSA’s survey of Asian semiconductor enterprises in 2023 highlighted key trends and challenges in the industry. The report outlined strategies for staying competitive and profitable in the evolving digital technology landscape. The global semiconductor market was faced with challenges in 2023, but the forecast for 2024 is positive, with a projected surge of 13.1% driven by demand recovery and growth in AI products.
The survey revealed that nearly half of semiconductor companies in the Asia-Pacific region are optimistic about future growth, with expectations of accelerated market growth in the next 3-5 years. Most companies have started digital transformation initiatives, but face challenges such as changes in operating models and talent shortages. Companies remain cautious about potential mergers and acquisitions, focusing on technology acquisition to enter new markets.
Looking ahead, semiconductor companies plan to invest in R&D, supply chain stability, and talent development. Geopolitics and costs pose challenges to supply chain stability, leading companies to adopt automation and intelligent solutions for visibility. Talent retention strategies include career path planning and skill development to mitigate project delays and increased costs.
Overall, the report provides a comprehensive overview of the APAC semiconductor industry trends, highlighting the importance of digital transformation, talent management, and supply chain stability in driving growth and innovation in the sector.