Digital Transformation Slows Down the Global Economy
South Korea Topmost Country in the Semiconductor Chip Production
By Aarti Dhapte , 08 January, 2024
The semiconductor industry in the technological sector is growing day by day. Semiconductor chips are in great demand as artificial intelligence has taken over the market in 2023. Therefore, semiconductor chip production is elevated as it is an essential component of electrical devices, computers, and other gadgets. The production of semiconductor chips is dominated by specific regions in the world, where South Korea will be the topmost producer of semiconductor chips in 2023.
Semiconductors are an essential element in the computing industries, and they are growing rapidly due to the influence of artificial intelligence. Artificial intelligence dominates the computing world nowadays, impacting semiconductor chip production in 2023. Semiconductor chip production is gradually increasing due to the importance of cloud in the digital world. Companies like Intel and Samsung, among others, are accompanying the need for chip production in the digital sector of the economy. Based on a survey conducted in 2023, South Korea is responsible for 70 percent of the total semiconductor chip production, along with Taiwan and China. The data collected in 2023 reveals the production percentage of different countries for semiconductor chips in 2022.
South Korea will place itself at the top with 25 percent of the total semiconductor chip production in 2022. China and Taiwan follow it with 22 percent of the chip production from each country. South Korea, China, and Taiwan together contributed 70 percent towards the total semiconductor chip production. America is reported to have 8 percent of total semiconductor chip production and is fifth on the list of semiconductor chip-producing countries. Japan places itself after Taiwan and Japan in fourth position, contributing around 13 percent of the total semiconductor chip production. The survey reported that data concluded in 2023, as mentioned above, was different two decades back, with the United States and Europe contributing approximately 37 percent and 44 percent, respectively.
Further survey concludes that the Asian countries target increasing domestic chip capabilities as reported in December 2023. Asia is contributing mainly to production and chip innovation in 2023. Therefore, the current market condition of semiconductors in chip production shows a better future for Asian countries.
Semiconductors Producing Countries
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Aarti Dhapte
Team Lead - Research
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