AI Powers Record 2024 Revenue, but Automotive and Industrial Struggles Linger Says Omdia
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Source: Business Wire
LONDON--(BUSINESS WIRE)--2024 marked a record-breaking year for the semiconductor market with annual revenue surging approximately 25% to $683 billion according to Omdia’s Competitive Landscaping Tool. The sharp rise was attributed to strong demand for AI-related chips, particularly high bandwidth memory (HBM), used in AI GPUs, which contributed to a 74% year-over-year growth in the memory segment. The rebound in memory helped lift the overall market after a challenging 2023.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250325544613/en/Total semiconductor revenue Omdia CLT 4Q24However, this record-setting year masked uneven performance across the industry. While the data processing segment experienced strong growth, other key segments - automotive, consumer, and industrial semiconductor – experienced revenue declines in 2024. These struggles highlight areas of weakness within an otherwise booming market.AI and memory c
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