Nvidia up, Infineon, ST down in chip market ranking
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Nvidia climbed to become Omdia’s top chip company in a global ranking by 2024 revenue. Meanwhile Infineon and STMicroelectronics both fell out of the top ten.
The global chip market was worth US$683 billion in 2024, up 25 percent over 2023, according to market researcher Omdia.
The surge in the chip market was due to a strong demand for AI-related chips, including high bandwidth memory (HBM) DRAMs. This more than compensated for a fall in sales of chips into the automotive, consumer, and industrial market sectors. These sectors all experienced revenue declines in 2024, Omdia said.
Top 20 chip vendors ranked by semiconductor revenue in 2024. Source: Omdia.
The result was that companies associated with AI and memory climbed Omdia’s top-twenty ranking of chip companies by revenue. Those that sell analog and power chips and are more exposed to the shrinking markets slid down the ranking including Infineon and STMicroelectronics.
The demand for memory elevated the manufacturers and resulted in Samsung, SK Hynix and Micron all being in the top seven in 2024.
“Historically, the industrial semiconductor market has grown approximately 6 percent each year, however, after two years of above-average growth in 2021 and 2022, semiconductor market revenue declined in double digits in 2024,” said Omdia analyst Cliff Leimbach, in a statement.
The automotive market contracted in 2024 after nearly doubling in size from 2020 to 2023.
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