Worldwide semiconductor revenue reached $655.9 billion in 2024, marking a 21% increase from the previous year’s $542.1 billion, as reported by Gartner, Inc. This surge in revenue led NVIDIA to surpass Samsung Electronics and Intel to claim the top position for the first time.
Gaurav Gupta, a VP Analyst at Gartner, explained that the positioning shift among the leading semiconductor vendors can be attributed to the heightened demand for AI infrastructure and a 73.4% rise in memory revenue. NVIDIA’s growth was primarily driven by a significant increase in demand for its discrete graphics processing units (GPUs), which have become the preferred choice for AI workloads in data centers.
Samsung Electronics maintained its No. 2 ranking, benefiting from gains in DRAM and flash memory as prices rebounded sharply due to a supply-demand imbalance. Conversely, Intel’s revenue saw only a 0.8% increase in 2024, facing growing competitive pressures across its major product lines and failing to capitalize on the rising demand for AI processing capabilities.
The following table summarizes the top 10 semiconductor vendors by revenue for 2024:
| Rank | Vendor | 2024 Revenue (Millions of USD) | Market Share (%) | 2023 Revenue (Millions of USD) | Growth (%) |
|---|---|---|---|---|---|
| 1 | NVIDIA | 76,692 | 11.7 | 34,846 | 120.1 |
| 2 | Samsung Electronics | 65,697 | 10.0 | 40,868 | 60.8 |
| 3 | Intel | 49,804 | 7.6 | 49,427 | 0.8 |
| 4 | SK hynix | 44,186 | 6.7 | 23,077 | 91.5 |
| 5 | Qualcomm | 32,976 | 5.0 | 29,229 | 12.9 |
| 6 | Broadcom | 27,801 | 4.2 | 25,613 | 8.5 |
| 7 | Micron Technology | 27,619 | 4.2 | 16,153 | 71.0 |
| 8 | AMD | 24,127 | 3.7 | 22,307 | 8.3 |
| 9 | Apple | 20,510 | 3.1 | 18,052 | 13.6 |
| 10 | MediaTek | 15,934 | 2.4 | 13,451 | 18.5 |
| Others | 270,536 | 41.2 | 269,031 | 0.6 | |
| Total Market | 655,882 | 100.0 | 542,054 | 21.0 |
This data highlights the competitive landscape of the semiconductor market and the shifts in market dynamics attributed to emerging technologies and changing consumer demands.
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