Semiconductor Industry Looking to Lead Economic Growth
The Semiconductor Industry Association gives us an insight into the true potential of the semiconductor market and it’s place in the US economy. The above chart shows the value added by many industries that are key contributors to the economy, and as you can see, since 1987 semiconductors have been on a steady path of increasing value. From that 1987 year to 2011 the semiconductor industry had been growing at an average annual rate of about 5.5% as is demonstrated in this graph:
The article also tells us that from 2007-2011, while the country was in recession, the semiconductor market continued to surge forward at about a 5.2% growth in value added. In summary, the paper ends with the affirmation that the semiconductor industry is the third largest manufacturing industry contributing more than $65 billion to the US GDP (Gross Domestic Product) behind only petroleum refineries and pharmaceutical preparations.
For more information on the overall performance of the semiconductor industry, click here->