SIA Publishes the 2023 SIA Factbook: A Source for Semiconductor Industry Data
Global semiconductor sales data showed the industry experienced significant ups and downs in 2022. While chip sales reached the highest-ever annual total in 2022, the slowdown in the second half of the year substantially limited growth. Global semiconductor sales reached $574 billion in 2022, and U.S. semiconductor companies accounted for sales totaling $275 billion, or 48% of the global market. To remain competitive in the industry, U.S. semiconductor firms also invested $58.8 billion in R&D, the highest in history. These data points and many more are now available in the recently released 2023 SIA Factbook.
The 2023 SIA Factbook presents a clear picture of the trends in the U.S. semiconductor industry and global market using data. Factbook sections include data on the global industry and market, capital and R&D investment, jobs, and productivity. Data is updated through 2022, and most of the data is presented over a 20-year period, which provides a picture of long-term industry and market trends.
The U.S. semiconductor industry is a key driver of America’s economic strength, national security, global competitiveness, and technology leadership. Semiconductors were invented in America, and U.S. companies still lead the global market, accounting for nearly half the world’s chip sales.
To help promote innovation and ensure America’s continued technology leadership, policymakers should take the following actions:
- Invest in U.S. semiconductor leadership Implement the policies and programs in the CHIPS and Science Act efficiently, promptly, and transparently. Devise regulations for the advanced manufacturing investment credit in the CHIPS Act to encompass the full scope of investments in the semiconductor ecosystem. Adopt policies to promote innovation and U.S. competitiveness, such as enacting an investment tax credit for semiconductor design and strengthening the R&D tax credit. Maintain U.S. technology leadership by investing in the research and science programs authorized by the CHIPS and Science Act.
- Implement a national strategy to improve our education system backed by appropriate investments and in consultation with education leaders and the private sector — to improve our education system, increase the number of Americans graduating in STEM fields, support those pursuing careers in microelectronics, and ensure training and education opportunities to fill open positions. Reform America’s high-skilled immigration system to enable access to the best and brightest in the world, including foreign students with graduate degrees in STEM fields from U.S. universities. Secure funding to strengthen the semiconductor workforce at all levels and ensure a robust pipeline at all education levels and skills needs.
- Promote free trade and protect IP by approving and modernizing free trade agreements that remove market barriers, protect IP, and enable fair competition. Expand the Information Technology Agreement, one of the World Trade Organization’s most successful free trade agreements.
- Cooperate closely with like-minded economies by aligning policies and regulations with likeminded allies to strengthen national security, promote growth, innovation, and supply chain resilience.