Biz / Tech

Integrated circuit revenue set to double

Zhu Shenshen
China, as the world's fastest-growing semiconductor market, is open to global cooperation and investment, the IC China 2020 conference in Shanghai is told.
Zhu Shenshen

Global integrated circuit market revenue will more than double to US$1 trillion in 2030 with developments such as AI, 5G and smart driving, CCID Group, a state-level research organization, said at a conference held in the city on Wednesday. 

China, as the world’s biggest and fastest-growing semiconductor market, will be open to global cooperation and overseas investment, speakers said.

The country’s integrated circuit market is on a “fast track” with an annual growth rate of around 20 percent in recent years. As the world’s biggest and fast-growing chip market, China is willing to further strengthen cooperation with other countries and welcomes companies from all over the world to invest and operate in China, said Yang Xudong, deputy minister of industry and information technology.

Yang was speaking at the IC China 2020 conference, which started on Wednesday and lasts until Friday. 

The semiconductor industry relies on the global marketing and supply chain to flourish. The industry needs open trade and continuous innovation, according to the Semiconductor Industry Association.

More than 600 semiconductor firms have set up facilities in Shanghai with a combined investment of 300 billion yuan (US$44.7 billion). The local integrated circuit industry has leading positions nationwide in design, manufacturing, equipment, materials and assembly and testing, Chen Mingbo, deputy secretary general of the Shanghai government, told the conference.

The IC China 2020 conference has over 200 exhibitors and exhibition space of over 15,000 square meters. It is expected to attract 20,000 visitors.

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