Industry news

 **Industry News: Global Semiconductor Shortage Expected to Continue Through 2024**

**November 12, 2024 – Global semiconductor supply chain disruptions are expected to persist well into 2024, according to a new report from the Semiconductor Industry Association (SIA).**  

The global chip shortage, which has impacted various sectors including automotive, consumer electronics, and industrial manufacturing, shows no signs of resolving soon. Despite significant investments by major tech companies in chip production capacity, demand continues to outstrip supply due to rapid advancements in AI, 5G, and electric vehicle technology, which require increasingly sophisticated semiconductors.

Leading manufacturers such as TSMC (Taiwan Semiconductor Manufacturing Company) and Samsung have ramped up production, but analysts caution that the complexities of the supply chain, from raw material shortages to labor constraints, are likely to keep prices high and availability limited.

"We're seeing record demand across multiple industries for chips that are more advanced and specialized than ever before," said John Neuffer, President of the SIA. "The current shortage is more of a supply-chain bottleneck than a simple manufacturing issue. It's a challenging time, but also a critical opportunity for companies to invest in long-term production capacity."

In response, companies are taking different measures to secure their supply of chips. Automakers, for example, are focusing on securing supply deals directly with foundries, while tech firms are diversifying their sourcing strategies, including bringing some manufacturing back to domestic markets in regions like the U.S. and Europe.

As the shortage continues into the next year, experts predict that industries reliant on high-tech electronics, such as smartphones, computers, and electric vehicles, will need to adapt to the ongoing supply constraints, potentially driving innovation in chip design and manufacturing processes.

End of report.