Samsung Electronics reclaimed the top spot from Intel in 2024, recording $66.5 billion in revenue
economymiddleeast.com, Feb. 05, 2025 –
Global semiconductor revenue in 2024 totaled $626 billion, an increase of 18.1 percent from 2023, according to preliminary results by Gartner, Inc. Revenue is projected to total $705 billion in 2025.
George Brocklehurst, VP Analyst at Gartner, attributed this surge in the sector to graphics processing units (GPUs) and AI processors used in data center applications.
"The rising demand for AI and generative AI (GenAI) workloads led data centers to become the second-largest market for semiconductors in 2024, behind smartphones. Data center semiconductor revenue totaled $112 billion in 2024, up from $64.8 billion in 2023," he stated.
Samsung Electronics reclaims top spot
The positive performance of the overall market impacted the ranking of several semiconductor vendors. Eleven vendors experienced double-digit growth and only 8 of the top 25 semiconductor vendors posted revenue decline in 2024. With 9 out of the top 10 semiconductor vendors recording revenue growth in 2024, the ranking of the top 10 semiconductor vendors changed compared to 2023.
Samsung Electronics reclaimed the top spot from Intel and extended its lead over the company in 2024 driven by a strong rebound in memory device prices. Samsung Electronics' revenue totaled $66.5 billion in 2024.
Intel moved to the second position as its product set was insufficient to offset the limited success of its AI accelerator offering and the modest growth in its x86 business. Intel's semiconductor revenue was flat at $49.18 billion in 2024.
Meanwhile, Nvidia continued to perform exceptionally well, increasing its semiconductor revenue by 84 percent in 2024, to total $46 billion. It moved up two spots to secure the third position thanks to the strength of its AI business.
Other notable mentions in the top 10 include SK Hynix in fourth place, Qualcomm in fifth and Micron Technology in sixth place.