According to Counter Point’s semiconductor revenue tracker, the revenue of semiconductors has risen 17% Year-over-Year (YOY) and has reached $158.2 billion in Q3 2024. The main reason for this growth is AI technologies, with AMD and NVIDIA getting the most work done in the AI field. As these companies have introduced new products in 2024, they will experience more growth in their semiconductor products. Memory sector also saw some rise in growth because of rising demand for AI storage solutions.
Companies like SK Hynid, Samsung and Micron saw the biggest growth, which reached double digits YoY in Q3 2024.
Semiconductor industry was seeing some decline in H1 2023, so Q3 2024 marked its biggest recovery period and it is expected to grow in Q4 2024. 73.1% of the market share was of 22 top global semiconductor companies, the same from 2023.On the other hand, the automotive sector is facing some challenges, because of the ongoing destocking process of companies under observation.
The top semiconductor company with the most market shares in Q3 2024 is Samsung with 12.9% market share, with 18% increase YoY. With 94% YoY revenue growth, SK Hynix is the second top semiconductor company with the most market shares in Q3 2024 (8.5%), followed by Qualcomm (5.5%). Samsung’s memory chip contributed to its growth, while companies like SK Hynix and Micron saw growth because of HBM. NVIDIA saw growth of 94% YoY because of its GPUs and the company is going to excel in Q4 2025 because of its Blackwell production shipments.
On the other hand, Intel saw 6% YoY decline in its market shares because of its cost-cutting initiatives and restructuring expenses. Intel is also facing some impairment charges which hurt their margins. Even though Intel is also experimenting with AI, it has not produced any positive outcomes yet.
Automotive companies like Infineon, STMicroelectronics and Texas Instruments are also experiencing decline because of competition in China and low demand for electric vehicles. Looking forward, AI technologies in smartphones, servers and PCs are going to be a major driver for revenue growth. Many semiconductor industries are already seeing some changes, but it may take some time for automobile industries to recover and adjust to this new market.
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Companies like SK Hynid, Samsung and Micron saw the biggest growth, which reached double digits YoY in Q3 2024.
Semiconductor industry was seeing some decline in H1 2023, so Q3 2024 marked its biggest recovery period and it is expected to grow in Q4 2024. 73.1% of the market share was of 22 top global semiconductor companies, the same from 2023.On the other hand, the automotive sector is facing some challenges, because of the ongoing destocking process of companies under observation.
The top semiconductor company with the most market shares in Q3 2024 is Samsung with 12.9% market share, with 18% increase YoY. With 94% YoY revenue growth, SK Hynix is the second top semiconductor company with the most market shares in Q3 2024 (8.5%), followed by Qualcomm (5.5%). Samsung’s memory chip contributed to its growth, while companies like SK Hynix and Micron saw growth because of HBM. NVIDIA saw growth of 94% YoY because of its GPUs and the company is going to excel in Q4 2025 because of its Blackwell production shipments.
On the other hand, Intel saw 6% YoY decline in its market shares because of its cost-cutting initiatives and restructuring expenses. Intel is also facing some impairment charges which hurt their margins. Even though Intel is also experimenting with AI, it has not produced any positive outcomes yet.
Automotive companies like Infineon, STMicroelectronics and Texas Instruments are also experiencing decline because of competition in China and low demand for electric vehicles. Looking forward, AI technologies in smartphones, servers and PCs are going to be a major driver for revenue growth. Many semiconductor industries are already seeing some changes, but it may take some time for automobile industries to recover and adjust to this new market.
Read next: Digital Ads to Make Up 82% of Global Revenue by 2025, GroupM Report Reveals
