In 2023, the semiconductor industry experienced a significant 11.1% year-over-year drop in revenue, amounting to $533 billion, according to Gartner. This decline was particularly notable as only 9 out of the top 25 semiconductor vendors saw revenue growth, while 10 experienced double-digit declines. The combined revenue of the top 25 vendors decreased by 14.1% in 2023, accounting for 74.4% of the market, down from 77.2% in the previous year.
Notably, Intel reclaimed the No. 1 spot in 2023, surpassing Samsung, after two years in the No. 2 position. Intel's 2023 revenue reached $48.7 billion, whereas Samsung's revenue stood at $39.9 billion. The underperformance of memory vendors contributed to Intel's resurgence. Nvidia also made strides in 2023, with a remarkable 56.4% growth in semiconductor revenue, totaling $24 billion, securing its place among the top five vendors for the first time ever.
ST also made significant advancements, moving up three spots to secure the No. 8 position, with its revenue increasing by 7.7% in 2023, largely driven by a strong presence in the automotive segment. However, the semiconductor market experienced a notable setback, with memory products witnessing a substantial 37% decline in revenue, marking the steepest decline among all segments within the industry.
Overall, the 2023 semiconductor market experienced a challenging year with shifting vendor rankings, fluctuating revenues, and significant declines in key segments, highlighting the dynamic nature of the industry.
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