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Robust demand and solid revenue growth have motivated semiconductor companies to invest in strategic plans to upgrade their production capacity, which could potentially ease the chip shortage in the near term. Also, the governments of several countries are investing in the industry to help increase production.
According to the Semiconductor Industry Association (SIA), sales during the second quarter of 2021 were $133.6 billion, up 29.2% year-over-year. Furthermore, the World Semiconductor Trade Statistics (WSTS) organization projects the worldwide semiconductor market to grow 25.1% year-over-year to $551 billion in 2021.
