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Semiconductor Industry Looks to Boom Through at Least 2024

by Last updated Aug 12, 2020 | Published on Jul 31, 2018Industries

Estimated Reading Time: 3 minutes

As advanced technologies emerge on what feels like a daily basis, and research remains strong, the semiconductor industry shows no signs of slowing — and in fact looks to boom through at least 2024. Axenics’ design, engineering and manufacturing teams have seen the growth of semiconductor manufacturing services first-hand, keeping pace with the industry over the last three decades.

We supply component manufacturing solutions to the semiconductor industry in the forms of bent tubing kits, weldments, manifolds and complete assemblies. Semiconductors are essential to virtually all the technology we utilize on a daily basis. Vehicles, computers, phones, appliances, medical devices – you name it – all use semiconductor chips that have seen unbelievable advancement since being created some 70 years ago. Smart machines are moving this technology even further into fields such as medical devices and aerospace.

Even the government is getting involved and looking for opportunities to assist the semiconductor industry’s future. The U.S. National Institute of Standards and Technology (NIST) plans a report for later this year to gain support for education and training for students looking into the field in an effort to ensure the U.S. remains a global powerhouse in semiconductor technology.

According to findings in the new report from Allied Market Research, “Global Semiconductor IP Market by Design IP, IP Source, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2024,” China is at the forefront of semiconductor revenue with the U.S. following in second. The report predicts the global market value of the semiconductor industry will rise from $3.4 billion currently to $5.7 billion in 2024.

It’s an exciting time to be in semiconductor manufacturing services, as reality moves us closer to what we would previously consider science fiction. A $1.5 million grant was just given to UC Davis in Sacramento, California, to develop DNA memory capabilities for semiconductors that can be electronically read, producing a longer lifespan and using less energy.

“The goal is to create a platform to read out information electrically instead of sequencing it — certainly, a long-term goal is to commercialize,” associate professor Josh Hihath, who is overseeing the project, told the Sacramento Business Journal.

Meanwhile, at the University of Los Angeles, researchers have developed thermally ultra-conducting material that can reduce the heat caused by electrons buzzing through processors, commonly experienced with the temperatures felt as smart phones get “hot,” for example. The smaller processors get, the hotter the devices can get. According to, scientists are using the compound boron arsenide to reduce the heat, even while semiconductors produce record-level conductivity.

As stated before, all of these advances have kept the demand high for those who assemble components for semiconductors. Axenics has a great reputation with customers in the industry, due to our ability to meet — or beat — deadlines, while keeping costs low. We produce end-to-end solutions in-house with cross-trained teams to ensure quick, quality service.

We’re excited to see what the future holds for semiconductor technology — and ready to be part of that future.

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