Powering the Economy
The semiconductor industry helps create $7 Trillion in global economic activity and is responsible for $2.7 Trillion in total GDP
Semiconductors touch almost every sphere of economic activity and have had an enormous impact on the world’s economy over the past 50 years. It is estimated that nearly 30% of the US’ aggregate economic innovation from 1960 to 2007 was attributed to the semiconductor industry. The industry boasts an annual revenue in excess of $300 billion and at $155,000 of GDP per full-time employee, the labor productivity of the worldwide semiconductor industry stands 37% higher than that of the US economy as a whole.
Driving Innovation Across All Modern Industry
We are living in an unprecedented era of hyperconnectivity that is redefining our societies, cultures, and how we communicate
Today, our mobile devices support social media and web browsing, multimedia entertainment, and various forms of connectivity that allows instant access to thousands of applications and internet based services. And tomorrow, mobile devices will support augmented reality, seamless voice control, 3D holographic screens, and powerful predictive analytics. The resulting explosion in data is staggering—according to IDC, the amount of data created globally will roughly double every two years, reaching 40 zettabytes by 2020. All of these advances offer unparalleled possibilities to enrich the lives of people around the world while generating growth and opportunity across the global economy. But none of this would be possible without the most fundamental building block of our modern age: the semiconductor, the material core of the digital world.
2. BBC Research