Executive outlook buoyed by automotive and artificial intelligence; yet concerns exist over talent and inventory
KPMG LLP and the Global Semiconductor Alliance (GSA) conducted the 19th annual global semiconductor industry survey in the fourth quarter of 2023. The survey captured insights from 172 semiconductor executives about their outlook for the industry in 2024 and beyond. More than half of the respondents were from companies with more than $1 billion in annual revenue.
The Semiconductor Industry Confidence Index score is 54 for the upcoming year (a value above 50 indicates a more positive outlook than negative). This is similar to last year (56), yet still lower than each of the previous five years. The primary drivers are the somewhat muted outlooks for workforce growth, research and development (R&D) spending, and capital expenditures. In fact, 51 percent of executives said their company already has, or in the next year plans to, postpone capital expenditures.