According to the Report of the American Semiconductor Association, the total sales volume of Chinese semiconductor companies will reach 116 billion US dollars by 2024, and their market share will increase from 9 percent in 2020 to 17 percent, with a compound annual growth rate of 30 percent. Data show that China’s semiconductor industry continues to grow under pressure from the external economic environment.
That worries the United States and South Korea. Unlike The growth of China’s semiconductor industry, the MARKET share of the U.S. semiconductor industry, which was around 50 percent in 2015, is expected to fall below 40 percent by 2024. A total of 28 semiconductor plants are under construction in China at an investment of $26 billion. Chinese semiconductor enterprises and the government have worked closely to promote the development of the semiconductor industry.
