Global semiconductor revenue declines by 11%; Intel ranked as top vendor: Report

The global semiconductor revenue was $533 billion, registering a decrease of 11% from 2022, a report from Gartner has shown. “The underperforming market also negatively impacted several semiconductor vendors. Only 9 of the top 25 semiconductor vendors posted revenue growth in 2023, with 10 experiencing double-digit declines,” said Alan Priestley. The combined semiconductor revenue of the top 25 semiconductor vendors declined 14.1% in 2023, accounting for 74.4% of the market, down from 77.2% in 2022.

In company-wise ranking, Intel bested Samsung Electronics to regain the first position in 2023. Qualcomm was named the third highest revenue, while Broadcom climbed two positions to gain the fourth place. On the back of high-impact generative artificial intelligence field in the year gone by, Nvidia becomes the biggest gainer, moved from 12th position in 2022 to fifth in 2023.

Gartner’s report also noted that the major fall in semiconductor was endured by the memory industry, recording the worst decline in the history, Gartner spokesperson quoted above said. The revenue for memory products declined by 37% in 2023, the biggest decline among all segments of the semiconductor market. In 2023, DRAM revenue declined 38.5% to total $48.4 billion and NAND flash revenue decreased from 37.5% to $36.2 billion. 

“Smartphones, PCs and servers, three of the largest segments for DRAM and NAND, faced weaker than expected demand and excess channel inventory, especially in the first half of 2023,” said Joe Unsworth, VP Analyst at Gartner.

While the report did not mention India specific numbers, an earlier report by Deloitte showed that the overall semiconductor market in India is projected to reach $55 billion by 2026, with a 20% CAGR during 2022-2026.