The Big Picture
Adding to the difficulties faced by manufacturers, according to the WSTS (Word Semiconductor Trade Statistics) there was a large, unexpected 24% jump in demand for semiconductors in 2021.
Looking forward to towards 2022 and beyond, the WSTS projects another 8.8% jump growth in 2022. This could result in a forecasted $601.5 billion in global demand. The continued need for advanced, difficult to manufacture chips, the increase in demand for consumer goods from automobiles to smart phones, and labor issues impacting factories and supply chains will undoubtably have lasting implications which will continue to drive shortage conditions across the industry into the coming future.