Driven by AI Chips, Chip Market Projections are Predicted to Reach IDR 9 Quadrillion Nvidia H100 AI chip Global semiconductor market growth is estimated to reach 13.1 percent in 2024, setting a record high of around 588.36 billion United States dollars or around IDR 9 quadrillion. World Semiconductor Trade Statistics, an industry organization comprised of major chip makers, revised its growth forecast from its previous estimate in June of 11.8 percent. The chip market's optimistic outlook is driven by the widespread use of generative AI following the launch of ChatGPT, an AI chatbot developed by US-based OpenAI, as well as increased sales of PC computers and smartphones. If this projection comes true, the chip market size will surpass the previous record of 574.08 billion US dollars in 2022. Although the market is expected to decline by 9.4 percent to 520.13 billion US dollars in 2023 due to weaker demand for memory chips, higher growth projections in 2024 are due to
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