TechTarget(US:TTGT) Prnewswireยท2024-12-12 16:16Core Insights - Aggregate semiconductor revenue for the first three quarters of 2024 increased by 26% year-over-year, amounting to a $102 billion increase, driven by strong demand for AI and related components [1][2] - Semiconductor revenue for the first three quarters of 2024 reached approximately $494 billion, surpassing the total revenue for all of 2020 [2] - The semiconductor industry is experiencing uneven growth, with the industrial sector projected to see a 16% year-over-year decline in 2024 [2] Industry Performance - Semiconductor revenue is expected to grow approximately 4.5% in the fourth quarter of 2024, reaching nearly $186 billion, as AI-focused companies outperform the broader industry [3] - The automotive market has stabilized, with semiconductor revenue expected to remain flat in 2024 compared to 2023, following consistent growth from Q3 2020 to Q3 2023 [4] - The industrial segment is forecasted to decline by $10 billion in revenue in 2024 compared to 2023 due to weak macroeconomic conditions [4] Company Highlights - NVIDIA and SK Hynix have significantly benefited from the AI surge, with both companies more than doubling their revenue in the first three quarters of 2024 compared to the same period in 2023 [2] - NVIDIA ranked first in Q3 2024 with a 10.5% revenue increase from Q2 2024, driven by AI demand, and its market share rose to over 15% [5] - The memory market is expected to grow by $73 billion in 2024 compared to 2023, benefiting companies like Samsung, SK Hynix, and Micron, which are positioned in the top six [6]