The global semiconductor industry is poised for a decade of growth and is now projected to become a trillion dollar industry by 2030. About 70 percent of the growth is predicted to come from just three industries: automotive, computers and data storage, and wireless. (McKinsey.com)

Reality: Japan leads the world with 102 semiconductor fabrication plants. Taiwan follows closely with 77 plants, including the world's largest independent semiconductor foundry, while the United States has 76 plants. (KPMG.com).

On ERD We support the semiconductor industry on the repair side, and we've seen supply and demand declines and the impact that has on our customers.

Why is this industry important to our future?

Let's talk about the power of the chip within our infrastructure.

• Environmental Strength: The use of semiconductors makes electronic devices more energy-efficient, reducing environmental waste and the use of rapidly depleting resources.

• Energy Efficiency Power: The use of semiconductors has increased the efficiency of lighting and heating and cooling in our homes.

• News and Entertainment Power: Semiconductors provide components for signal processing in both the radio and TV fields.

• Strength of Medical Devices: Most modern medical diagnostic devices that allow early detection and treatment rely on semiconductor technology.

• Automotive and Transportation Power: Most modern vehicles, including electric cars and trucks, rely on semiconductors for many functions, including navigation and safety.

• Computer Power: There are no computers without semiconductors. No computer means no online shopping, no email and no internet.

• Security Power: Home security devices depend on semiconductor technology to function.

• Dear Smartphone: Semiconductors make smartphones possible.

• Power at home: Apart from smartphones and computers, all microwaves, refrigerators, washing machines rely on semiconductors for their functionality.

• Economic Power: The semiconductor industry is expected to become a trillion dollar industry by 2030.

• Emergence of new technology: Several new technologies are on the horizon that could significantly impact the semiconductor industry in 2024. These include neuromorphic computing, quantum computing, and new materials such as gallium nitride (GaN). The rapid development of AI has fueled an increase in demand for new and improved semiconductor products. As AI algorithms become increasingly complex, requiring higher performance and specialized AI chips, the semiconductor manufacturing and design landscape will change dramatically. New AI technologies have not only accelerated technological progress but also created new market opportunities within the semiconductor industry.

Semiconductors are present in every aspect of our lives and are now the backbone of our society. Take a step back today to appreciate the powerful semiconductor and truly enjoy the benefits of this amazing technology.