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TAP TIMES -24- FEBRUARY 2022

China’s chip sales surpass $39.8 billion in total annual sales, accord-
ing to an SIA industry analysis. The jump
Taiwan for the second year — SIA in growth helped China capture 9% of
the global semiconductor market in 2020,
WASHINGTON, D.C. — Global chip surpassing Taiwan for two consecutive
sales from Chinese companies are years and closely following Japan and the
on the rise, largely due to increasing EU, which each took 10% of market share.
U.S.-China tensions and a whole-of- Sales data for 2021 are not yet available.
nation eff ort to advance China’s chip
sector, including government subsi- Strong momentum
dies, procurement preferences, and If China’s semiconductor development
other preferential policies, according continues its strong momentum – main-
to the Semiconductor Industry Asso- taining 30% CAGR over the next three
ciation.. years – and assuming growth rates of in-
dustries in other countries stay the same,
Just fi ve years ago, China’s semiconductor the Chinese semiconductor industry could
device sales were $13 billion, accounting generate $116 billion in annual revenue
for only 3.8% of global chip sales. by 2024, capturing upwards of 17.4% of
global market share.
Unprecedented annual growth
In 2020, however, the Chinese semicon- This would place China behind only the
ductor industry registered an unprecedent- United States and South Korea in global
ed annual growth rate of 30.6% to reach market share. next page

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