畢馬威：2022年全球芯片行業(yè)展望

Global

semiconductor

industryoutlook2022

Financialandoperationalconfidencesurgestoan

all-timehighdespitesupplychainchallenges

KPMGLLP

GlobalSemiconductorAlliance

/semiconductors

1

Contents

Foreword

2

Keyfindings

3

Financialexpectations

4

Operationalexpectations

8

Growthproductsand

applications

12

Industryissuesand

strategicpriorities

15

Nextsteps

18

Researchmethodology

19

AboutKPMGandtheGSA

20

Abouttheauthors

21

Thisisthe17thannualKPMGGlobalSemiconductorIndustryOutlook,withkeyfindingsfromasurveyof152semiconductorprofessionalsfromacrossthegloberepresentingorganizationslargeandsmall.Thesurveywasconductedinthefourthquarterof2021byKPMGandtheGlobalSemiconductorAlliance(GSA).

ThepublicationisdesignedforsemiconductorCEOs,COOs,

CFOs,controllers,financeleaders,andstrategicandcorporate

developmentpersonnel.

Thisreportisequallyrelevantforexecutivesofcompanieswhoseproductsareheavilyreliantonsemiconductorcomponents,includingproductsfortelecommunicationsinfrastructure,cloudservices,platformproviders,devicessupportingInternetofThings(IoT)applications,andproductsdestinedforautomotiveelectronicapplications.

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

2

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

Foreword

Althoughthechallengesofthepastcoupleofyearsarenotyetintherearviewmirror—withthesemiconductorindustrystilldealingwithshortages,whilecommittingtolong-termcapitalinvestments—thefutureoftheindustryappearstobeaspositiveasithaseverbeenonvirtuallyeverylevel.

Thedemandforproductspoweredbysemiconductorsismassiveanddrivenbymultipleendapplications,fromsmartelectriccarsandmobiledevicestocommunicationinfrastructureandIoTdevices.Theindustrydeliveredall-timehighrevenueof$556billionin2021andisexpectedtoreach$600billionin2022.1Andwithsupplychainsstrugglingtomeetthatdemand,manyindustryinsidersbelievethechipshortagewillstretchinto2023,whichwouldcontinuetoimpactendmarketsworldwide.

Despitethesupplychainchallenges—whichhighlightedonceagainthecriticalityofsemiconductorstoourqualityoflife,workproductivity,education,andnationalsecurity—confidenceintheindustry’sgrowthpotentialhasneverbeengreater.Infact,theKPMGSemiconductorIndustryConfidenceIndexisatanall-timehigh.

Toaddressfuturedemand,morethanhalf(53percent)ofthesemiconductorexecutivessurveyedinnewresearchfromKPMGandtheGlobalSemiconductorAlliance(GSA)saytheirorganizationhasmovedtowardanendmarketorientation,whichsuggeststheyareprioritizingthespecificrequirementsoftheorganizationswhousetheirproductseverydaytogrowtheirownbusinesses.

Withcarsnowessentiallycomputersonwheels,andasupplychainnotoptimizedforsemiconductorcomponents,theglobalautomotiveindustryhasbeenhitespeciallyhard,asautomakersareexpectedtoincurmorethan80percentoftheestimated$125billioninforegonesemiconductorrevenuein2021.2Otherendsegments,suchasgaming,mobile,andinfrastructure,havefaredbetterduetothehigherlevelofsophisticationandpreparednessoftheirsupplychains.

Somepositivesignsarematerializing,however,thatsuggesttheindustryisslowlyresolvingthesupplychallenges.InOctober2021,forexample,deliverytimesseemedtobelevelingoffcomparedtothesteepincreasesoverthepriorninemonths.3Nevertheless,distributorsarepreparingcustomerstoexpectextendedleadtimesin2022,notablyforceramiccapacitorsandchipresistors.4Althoughthemarketcontinuestobetight,severalmajorglobalautomanufacturersarereportingthatimprovedchipavailabilityhasfactoriesoperatingatnear-normalcapacityforthefirsttimeinmonths.

Asastrategicpriority,talenthasbeennearthetopofthelistforindustrydecisionmakersoverthelastcoupleofyearsandremainsakeyfocus.Inadditiontomoretraditionalchallenges—forexample,semiconductortalentbeingattractedbytechgiantslookingtodeveloptheirownchips—newissueshaveemergedsuchasremotework,employeeburnout,andanincreasedwillingnessandabilitytoenabletalenttomoveintonewrolesandlocations.

Theseissuesandconcerns

arenotgoingaway

anytimesoon.Thedemand

forsemiconductors—

andtherelatedneedfor

professionalswhospeak

thelanguageofthese

products—isexpectedto

remainstrongforthenext

fewyears.

LincolnClark

PartnerinCharge

GlobalSemiconductor

practice

KPMGintheU.S.

3

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

Ke入findings

Industryissuesandstrategicpriorities

Growthproductsandapplications

Operationalexpectations

Financial

expectations

Confidenceisatanall-timehighwithsurgingdemandinmultipleendapplicationsdrivingbusinessprojectionsupwardandacceleratingtheneedforadditionalcapacity.

95%r

growoverthenextyear,and34%forecastitwillgrowmorethan20%.

expectcapital

expenditures

88%(capex)toincrease

overthenextyear.

Semiconductorfirmscontinuetoorganizearoundendmarketsandsolutions,tobetterfocusoncustomerdemand.Manyaremakinginvestmentsintheirsupplychain.

53%oward

beingmoreorientedbyendmarkets(forexample,automotive,communications,etc.).

foreseethe

semiconductor

56%shortagecontinuing

into2023.

plantodiversifytheirsupplychaininthenext12months.

60%

ApplicationsfortheautomotivesectorsurpassedIoTandarenowperceivedtobethe#2revenuedriverforthenextfiscalyear.

Topthreeapplicationsdrivingcompanyrevenuegrowthoverthenextyear:

Besidesongoingsupply/demandimbalance,semiconductorfirmsarechallengedtoattract,develop,andretainskilledtalent.

Topthreestrategicprioritiesoverthenextthreeyears(besidesgrowth):

1

2

Wireless

communications

1

2

Talentdevelopment/retention

Supplychain

flexibility

Automotive

3

Internet

ofThings

3

Mergersandacquisitions(M&A)

Source:KPMGGlobalSemiconductorIndustrySurveyfindings,2022(n=152).

4

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

Financial

expectations

Keytakeaways

—Buoyedbyrecorddemandinallkeyend-

markets,nearlyallrespondentsexpect

companyandindustryrevenue,aswellas

operatingprofitability,toincreaseoverthe

nextyear.

—Mostindustryinsidersbelievetheir

companies’globalworkforcewillgrow

in2022.

—TheKPMGSemiconductorConfidenceIndex

increasedconsiderablyyear-over-yeartoan

all-timehigh,reflectingtheindustry’sstrength.

“Theaccelerationtodigitalinallareasofour

personalandprofessionallivesisdrivingthe

semiconductorindustrytonewheightsingrowth

andinnovation.Therehasneverbeenamore

—JodiShelton”

excitingtimetobeapartofthisessentialindustry.

CEO,GlobalSemiconductorAlliance

5

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

Financialexpectations

Theoutlookforrevenueandprofitabilityhasgrownstronger

2021wasanotherbanneryearforthesemiconductorindustrywithglobalsalesof$556billion,a26percentincreaseover2020.Further,WorldSemiconductorTradeStatisticsprojectsglobalsemiconductorsaleswillgrow8.8percentin2022,eclipsing$600billion.5

Ninety-fivepercentofKPMG/GSAsurveyrespondentssaidtheybelieverevenueattheircompanieswillgrowoverthecomingyear,withmorethanone-third(34percent)expectinggrowthofmorethan20percent,suggestingtheindustryleaderswespokewithareverybullishontheirprospectsfor2022.FromtheU.S.,acrossEurope,theMiddleEast,andAsia,thisoptimismisfairlyconsistentregionally.

Respondents’highlyoptimisticbusinessoutlookforthenextyearisnotsurprisingconsideringthestrongdemandforchipswithinnumerousindustries,fromcommunicationsandautomotivetohealthcareandconsumerelectronics.Withtherolloutof

5Ginfrastructure,theincreasinguseofartificialintelligence,growthinelectricvehiclesandconnectedcars,andtherisingdemandforchipsinIoTapplicationsandconsumerproducts,globalsemiconductorsalesareexpectedtobreak$600billioninthenext12months.6

Anoverwhelminglypositivefinancialoutlookfor2022

Companyrevenue

2%3%

95%

Industryrevenue

1%1%

97%

4%

5%

Industryoperating

profitability

91%

1Increase1Decrease1Nochange

Source:KPMGGlobalSemiconductorIndustrySurveyfindings,2022(n=152).Percentagesmaynotsumto100%duetorounding.

Companyrevenuegrowthoptimismskewstowardthelargestcompanies(annualrevenueof$1billionormore),100percentofwhichexpecttheirrevenuetoincreaseoverthenextyear.Thatsaid,moresmall(annualrevenuebelow$100million)andmid-sized(annualrevenuebetween$100and$999million)firmsexpectrevenuegrowthtoincreasebymorethan20percent(47percentsmallversus37percentmid-sizedversus22percentlarge).Thisisaveryclearsignalofoptimism,sincebiggercompaniesaretypicallymorechallengedtogrowattheserates.

Regardingindustryoperatingprofitability,91percentbelieveit’sgoingtogrow,with68percentsayingtheincreaseswillbebetween1percentand10percent.Aspositiveastheseresponsesare,theydoseemtoimplyanunderlyingincreaseinoperatingcosts.Thisisonceagaininlinewithindustryinvestments,record-longmaterialleadtimes,risingcommodityprices,logisticsdifficulties,andongoingimpactsofthepandemic.

Indeed,fromafoundrypointofview,theannouncementinAugust2021thatTaiwanSemiconductorManufacturingCo.(TSMC)wasplanningtohikeitsproductionfeesby20percent—thebiggestpricehikeinyearsbytheworld’sleadingchipmaker—corroboratesthatperception.7

In2020andearly2021,chipmakerswereabsorbingmuchofthosecosts.AnumberofcompaniescitedCOVID-relatedcostsintheirearningsannouncementsasareasonwhymarginsmightbedifferentfromanalystexpectations.Butastheindustry’ssupply/demandimbalancelevelsout,revenueexpectationsarenotdrivensolelybydemand,butalsobytheabilitytosetprices,whichinmanycasesisinthehandsoftheproductowners.In2021,themarketgrew23percentoverallfollowinga20percentincreaseinshipmentsanda3percentincreaseinsemiconductorASP.8

6

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

1%

Financialexpectations

Investmentinthebusiness—talent,capex,R&D—expectedtobestrong

Assemiconductorfirmscontinuetolookforcreativewaystoemergefromtherecentchallenges,it’scleartheyarewillingtospendtodoso.

Asignificantmajorityofrespondents(88percentand84percent,respectively)expectcapex,includingbothequipmentandsoftware,andresearchanddevelopment(R&D)spendingtoincreaseonanabsoluteleveloverthenextyear,anindicationthatchipfirmsarelookingnotonlyatimprovingefficiencies,butalsowithaneyetowardinnovation.TSMC,Samsung,andIntelallannouncedplanstoincreasecapitalexpendituresin2022,withTSMCplanningtospend$40billionto$44billion.9

Theseresponsesrepresentaconsiderableuptickoverthe2021globalsemiconductorindustryoutlookresponses,inwhich73percentand71percentofrespondents,respectively,toldustheyexpectedtoseemorecapexandR&Dspendingoverthecoming12months.

Similarly,88percentbelievetheirglobalworkforcewillgrowin2022—anincreaseofnearly40percentoverlastyear’soutlook.Asdetailedlaterinthisreport,talentisthetopstrategicpriorityamongsurveyrespondents,sothishumancapitalexpenditureisanacknowledgmentoftheneedtopaytoattractandretaintheleveloftalentthataninnovation-basedindustryrequires.

Semiconductorcompaniesarefocusedongainingandincreasingcompetitiveadvantagethroughstrategicinvestment,andalthoughanumberofchipmakersarebuildingorplantobuildfoundriesintheU.S.inanefforttoreversetheerosionofU.S.-basedchipmanufacturing,10theindustryisatacrossroads.Asmanygovernmentsaroundtheworldproposeandenactfundingtosupporttheirowndomesticsemiconductormanufacturing,theU.S.federalgovernmentisworkingtopasstheCHIPSAct.A$52billioninvestmentinthefutureofchipresearch,design,andmanufacturing,thislegislationisintendedtomaintainU.S.leadershipinanindustrythatisarguablythemostcriticalcomponentofourrapidlydigitizingglobaleconomy.

Doyouexpectyourcompany’scapex,R&D,andtalentinvestmenttoincreaseordecreaseoverthenextyear?

Increase>20%

Increase11–20%

Increase6–10%

Increase1–5%

Nochange

Decrease1–5%

Decrease6–10%

17%

18%

26%

17%

19%

25%

26%

25%

26%

27%

22%

11%

11%

13%

11%

2%

2%

1Talent1R&D1Capex

1%

Source:KPMGGlobalSemiconductorIndustrySurveyfindings,2022(n=152).

61

74

Companieswithannualrevenue

$1Bormore$100M–$999MLessthan$100M

74

74

73

Industryconfidenceindex

Indexcomponents

87

89

84

Companyrevenuegrowth

78

77

80

Companycapitalspending

65

67

73

Companyworkforcegrowth

68

71

69

CompanyR&D

spending

70

63

63

Industryprofitability

Source:KPMGGlobalSemiconductorIndustrySurveyfindings,2022(n=152).

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

7

Financialexpectations

SemiconductorIndustryConfidenceIndex

TheKPMGSemiconductorIndustryConfidenceIndex

isatanall-timehigh.Theindexscoreisbasedonsurvey

respondents’one-yearoutlooksfortheircompaniesin

termsofrevenue,workforcegrowth,capitalspending,

R&Dspending,andoperatingprofitabilityfortheindustry.

For2022,theconfidenceindexsurgedfrom61to74,

whichisnotsurprisinggivenrespondents’highlypositive

outlookacrossthevarioussurveyquestions.

Overallindexscores

2021

2022

2020

59

Typically,smallercompaniesmaintainconfidencelevels

thateclipsetheirlargercohorts.Indeed,theindexwas

at68lastyearforsmallersemiconductorcompanies—

whichwouldhavebeenarecordforthefullindex—while

mid-sizedandlargecompanieshadreadingsof63and

53,respectively,whichwerestillhistoricallycompetitive

figures.

However,inthe2022survey,largecompaniesinparticularexhibitedasubstantialjumpfrom53to74,largelyonthepromiseofongoingdemand,whilesmallercompanies’indexwentfrom68to73.Thisincreaseistheresultofrespondents’confidenceinworkforcegrowth,increasedcapitalspending,andrevenuegrowth.Itispossiblesmallercompanies’confidencegrewlessthanbiggercompanies’becausesmallercompaniesarefindingitmoredifficulttosecureproductinsuchaconstrainedenvironment.

Globalsemiconductorindustryoutlook

8

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

Operational

expectations

Keytakeaways

—Semiconductorfirmscontinuetoorganize

aroundendmarkets,ratherthanproducts,

tohavebetterfocusoncustomerdemand

duringthesechallengingtimes.

—COVID-19hasledthemajorityof

semiconductorcompaniestoimplement

permanentwork-from-anywhereand/or

flexiblehourspolicies.

—Morethanhalfofsurveyrespondentsbelieve

theongoingchipshortagewon’tenduntil

sometimein2023.

“Semiconductorcompaniesarestrivingtomeet

customerorders,butthechipshortageisstill

expectedtolastinto2023.Toalignwithcustomer

expectations,mostcompaniessaytheyhavemoved

”

PartnerinCharge,GlobalSemiconductorpractice,KPMGintheU.S.

9

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

Agree/Stronglyagree

Neutral

Disagree/Stronglyagree

Operationalexpectations

Companiesaremoreorientedtowardendmarkets

Morethanhalfofrespondents(53percent)agreetheirorganizationhasbecomemoreorientedtowardendmarkets,suchasautomotive,communications,orconsumerelectronics.Interestingly,64percentoflargecompaniessaidtheyarerealigningtheirbusinesstowardendmarkets,whileonly38percentofsmallerfirmscitedthisorientation.

Thisdatapointsuggeststhatcompaniesarefocusingonuniqueapplicationrequirements,asopposedtocreatingproductsthatcanbesoldtomultipleendapplicationsandusers.Indeed,thetopchallengeintermsofdevelopingproductsandtakingthemtomarket,ascitedby30percentofrespondents,isthefactthatcustomers

arerequiringmorecomplexsolutions.Onarelatednote,42percentsaidsolutionswereacorecompetencyoftheircompany.

Intermsofcompanysizeandindustrysegment,respectively,thestrongestresponsescamefromthelargestcompaniesandthefoundries/IDMs(integrateddevicemanufacturers).

Thisisalsosignificantforspecificsectorsupplychains,particularlytheautomotiveindustry,whichutilizemorechipseverynewmodelyear,especiallyinelectricvehicles.Ifsemiconductorcompaniesarestructuredbyendmarkets,perhapsthechancesofmaterialdisruptionamongindustriesforwhichsemiconductorsareanintegralcomponentwillbediminishedthenexttimethere’saproductavailabilitygap.Today’snontraditional

powertraindesigns—hybridandfullyelectricvehicles—havetwicethesemiconductorcontent(byvalue)ofinternalcombustionengine(ICE)vehicles.Tomorrow’sfullyautonomousvehicles,equippedwithLiDARsensors,image-recognitionsystems,and5Gcommunications,willlikelyhaveeighttotentimesasmuchsemiconductorcontentasnonautonomousvehicles.11

Semiconductorcompaniesreportingtheirorganizationalstructurehasmovedtowardanend-marketorientation

53%

28%

18%

Source:KPMGGlobalSemiconductorIndustrySurveyfindings,2022(n=152).

Percentagesdonotsumto100%duetorounding.

10

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

Operationalexpectations

COVID-19inspirednumerouslong-termorganizationalchanges,butnone

moreubiquitousthanpermanentflexibleworkarrangements

Respondentscitedpermanentwork-from-anywhereastheleadingCOVID-19-relatedchange.Perhapsevenmorestriking,however,aretheregionaldifferences:63percentand76percentofU.S.andEurope/MiddleEast/Africa(EMEA)respondents,respectively,saidworkforceflexibilityisthetopchange,comparedtojust37percentinAsia/Pacific(ASPAC).Onefactorinthisdivergencecouldbethetypeofbusinesstherespondentisin—16percentofASPACrespondentsarefoundries,whichneedpeoplephysicallyandregularlyon-site.

ThesecondmostcommonCOVID-19-relatedchangeisanincreaseintheuseofcloudand/orautomationtechnologies(52percent).Thismakessenseastheseapplicationsareneededtofacilitateremoteworkaswellasvariousotherbusinessoperations.

Althoughstillsomewhatlowerthanexpected,theenvironmental,social,andgovernance(ESG)numberisencouraging.Overthepastfewyears,ESGhasn’trankedparticularlyhighonsemiconductorrespondents’prioritylist,despitethegrowingregulatoryandsocietalfocus.Inthissurvey,morethanone-third(36percent)saythatCOVID-19hasledthemtorevisetheirESGpracticesandreportingpolicies.Lastyear,thatfigurewas28percent.Forty-fourpercentofthelargestand43percentofmid-sizedsemiconductorcompaniesareaddressingESGrelativetoonly19percentofsmallercompanies.

Fromasupplychainperspective,37percentsaidtheyareincreasingtheirinternalsupplychaincapabilities,with39percentsayingtheyareincreasingthegeographicaldiversityoftheirsupplychain.

Thesenumbersmayseemlow,buttheindustryhashadtomanagecomplexglobalandinterconnectedsupplychainsformanyyears.Moresubstantialchangesareexpectedintheendcustomersupplychainsusedtosourcesemiconductors.Forexample,severalautomakershavestartedtobuildrelationshipsdirectlywithchipsuppliersratherthancontinueprocurementthroughTier1suppliers.13

Long-termchangesimplementedasadirectresultofCOVID-19

60%

Permanentwork-from-anywhere/flexiblehours

52%

Increaseduseof

cloud/automation

39%

Increasedgeo

supplychaindiversity

37%

Increasedgeodiversity

ofotherinternalops

37%

Increasedinternalsupplychaincapabilities

36%

RevisedESGpractices/reporting

Source:KPMGGlobalSemiconductorIndustrySurveyfindings,2022(n=152).Multipleresponsesallowed.Partiallistshown.

11

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

Operationalexpectations

Mostindustryinsidersexpectthesemiconductorsupplyshortagetoextendinto2023

Morethanhalfofsurveyrespondents(56percent)believethechipshortagewon’tenduntil2023,while42percentthinkitwillendin2022.

U.S.respondentsareabitmoreskeptical,with65percentsayingtheshortagewillpushinto2023.Only50percentand44percentofASPACandEMEArespondents,respectively,believetheshortagewillgointo2023.Thiscouldbeattributabletothefactthat,despitelastyear’sannouncements,theU.S.-installed

semiconductorproductioncapacityhasdecreasedfrom37percentin1990to12percentin2021.13

Someofthedivergentopinionsonthelengthofthechipshortagecouldbeduetotheneedsandurgencyofdifferentendmarkets.Forexample,PCdemandmightbeslowingbecausetheinitialwork-from-anywheredemandhasbeenfulfilled,butothersegments,suchasinfrastructureandautomotive,arestilldealingwithchallenges.

However,thatimbalanceremainscriticallydisruptedinotherendmarkets,especiallyhealthcare,wherethepersistentCOVID-19pandemichasamplifiedthechipshortageforvariousmedicaldevices,suchastelehealthmonitoringandclinicaldiagnosticequipment,andmedicalimagingsystems.

Similarly,theautosectorcontinuestoworkthroughitswell-publicizedsupply-chainlogjams.Someprojectionsdon’tseethewholesalecarmarketreturningtopre-COVID-19,pre-chip-shortagelevelsuntilatleast2025.14

Expectationsfortheendofthesemiconductorshortage

21%

Early2023

26%

End2022

13%

End2023

13%

Mid2022

22%

Mid2023

3%

Early2022

3%

Other

Source:KPMGGlobalSemiconductorIndustrySurveyfindings,2022(n=152).

Percentagesdonotsumto100%duetorounding.

12

Globalsemiconductorindustryoutlook

?2022KPMGLLP,aDelawarelimitedliabilitypartnershipandamemberfirmoftheKPMGglobalorganizationofindependentmemberfirmsaffiliatedwithKPMGInternationalLimited,aprivateEnglishcompanylimitedbyguarantee.Allrightsreserved.

Growthproducts

andapplications

Keytakeaways

—Respondentsagainviewsensors/MEMSas

thesegmentrepresentingthegreatestproduct

growthopportunity.

—Wirelesscommunications,including5G

infrastructure,smartphones,andothermobile

devices,areconsideredthemostimportant

revenuedriver.

—Althoughautomanufacturershavebeen

hitespecially