According to reports, the size of Taiwan’s chip industry is expected to reach $157.3 billion in 2022.
Terry Tsao, Head of the Taiwan Branch and Global Marketing Chief of worldwide chip industry association SEMI, told the media that they expect capital investments in the sector to reach $48.03 billion this year, representing a 42.1 percent rise.
Tsao indicated that they expect the Taiwan chip industry to reach 157.3 billion dollars in revenue in 2022 while speaking at SEMICON, an international trade conference for the chip industry held in Taipei.
Tsao mentioned that the global chip market is anticipated to reach $625 billion by the end of 2022, with an annual growth rate of 12.1 percent. However, Tsao warned that the market might face difficulties due to geopolitical risks, supply chain management in the wake of pandemics, sustainable development, and a shortage of skilled workers in the medium and short term.
Taiwan plays an important function in the global economy by producing more than two-thirds of the microchips that are the foundation of various goods and technology, including computers, cellphones, electric vehicles, and airplanes.
With a 56 percent market share in global production, Taiwanese business TSMC (Taiwan Semiconductor Manufacturing Company) is the leader in the sector.
Moreover, Taiwanese manufacturers UMC (Unified Micro Electronics Company), VIS (Vanguard International Semiconductor Company), and PSMC (Powerchip Semiconductor Manufacturing Company) all have a 7% market share.
The future of the industry is in question because of the possibility that Taiwan, the center of the world’s chip supply, may be cut off in the case of a dispute with China.