Recently, Deloitte released a report highlighting a severe talent shortage in the global semiconductor industry. The report indicates that the industry's revenue is projected to reach $1 trillion by 2030, but to achieve this milestone, the sector needs to add more than 100,000 technical workers annually.
With the rapid advancement of technologies such as Generative AI (GenAI), the demand for highly skilled professionals in the semiconductor industry is increasing. However, the intense competition within the industry makes it increasingly challenging to attract and retain these talents. Deloitte's research also emphasizes that the semiconductor workforce is aging with insufficient succession planning. Additionally, the industry's appeal is relatively lower compared to other tech sectors, with younger individuals preferring to choose more "trendy" companies.
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Globally, localized manufacturing and growing demand are exacerbating the talent shortage. Semiconductor companies face similar talent competition, struggling to find enough suitable candidates. Deloitte predicts that the global semiconductor industry needs to increase investment in talent development, especially in the U.S. and Europe, where governments are actively promoting relevant policies to encourage companies to focus on employee training.
Although the semiconductor industry's revenue declined by 9% due to cyclical factors in 2023, it is expected to rebound and grow by 16% in 2024. Facing future challenges, semiconductor companies must optimize their talent strategies to ensure they meet market demands.
Moreover, Deloitte's survey shows that 72% of industry leaders believe that Generative AI will play a significant role in the semiconductor industry. Although this technology can help alleviate some of the engineer shortages, the relevant skills remain scarce. Companies need to actively attract these rare talents by offering more attractive benefits and career development opportunities.
Globally, countries are facing similar talent crises. Many nations, especially India and Europe, are experiencing significant gaps in technical workforce within the semiconductor industry. By 2027, India's semiconductor sector is expected to be short of 250,000 to 300,000 professionals, while the EU, aiming to double its market share, is projected to need an additional 400,000 workers.
Deloitte advises that semiconductor companies should focus on the training and development of talents to ensure they can adapt to future market changes. Collaborating with educational institutions and enhancing industry appeal are crucial steps in addressing the talent shortage.
Key Points:
- 🌍 The global semiconductor industry is expected to reach $1 trillion in revenue by 2030 but needs to add over 100,000 technical workers annually.
- 👩💻 With the rapid development of Generative AI technology, the demand for highly skilled talents is increasing, yet the competition for talent is fierce.
- 📉 Multiple countries, especially India and the EU, face severe talent shortages in the semiconductor industry, requiring intensified efforts in training and development to meet future challenges.
