According to a report by the Semiconductor Industry Association, the global semiconductor market reached a record high of $464 billion in 2020, and is expected to continue to grow in the coming years. [X] This growth has been fueled by the increasing demand for semiconductor-enabled technologies, such as smartphones, laptops, and data centers. However, this surge in demand has also led to a shortage of skilled workers in the industry. Boston Consulting Group predicts that the semiconductor industry will face a shortfall of 10,000 to 30,000 engineers in the coming years. [X] In response to these challenges, the US government has recently allocated $52 billion in funding for the semiconductor industry to address the talent shortage and maintain its competitiveness in the global market. [X] In this blog, Victoria Tchachnikova, TPD’s Semiconductor Industry Workforce Specialist will explore strategies for semiconductor companies to keep up with hiring demands and attract the best talent in this rapidly growing industry.

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