Gartner Says Worldwide Semiconductor Revenue Grew 21% in 2024

NVIDIA Took No. 1 Position for the First Time Reaching 11.7% Market Share
Samsung Electronics Remained in No. 2 Spot, While Intel Dropped to No. 3 Ranking

STAMFORD, Conn. -- April 15, 2025 -- Worldwide semiconductor revenue totaled $655.9 billion in 2024, up 21% from $542.1 billion in 2023, according to final results by Gartner, Inc. NVIDIA climbed to the No. 1 position, overtaking Samsung Electronics and Intel for the first time (see Table 1).

Expert Take:

“The position shift among the top 10 semiconductor vendor revenue ranking is due to large demand for AI infrastructure buildout and an increase of 73.4% in memory revenue,” said Gaurav Gupta, VP Analyst at Gartner. “NVIDIA moved to the No. 1 spot as a result of a marked increase in demand for its discrete graphic processing units (GPUs) that served as the primary choice for AI workloads in data centers.

“Samsung Electronics retained the No. 2 spot, driven by gains in both DRAM and flash memory as prices rebounded sharply in response to an imbalance in supply and demand,” said Gupta.” Intel’s revenue grew 0.8% in 2024 as competitive threats gained momentum across all its major product lines and it was unable to take advantage of the robust increase in demand for AI processing.”

Table 1: Gartner Data Snapshot: Top 10 Semiconductor Vendors by Revenue, Worldwide, 2023-2024 (Millions of U.S. Dollars)

2024 Rank	2023 Rank	Vendor	2024 Revenue	2024 Market Share (%)	2023 Revenue	2024-2023 Growth (%)
1	3	NVIDIA	76,692	11.7	34,846	120.1
2	2	Samsung Electronics	65,697	10.0	40,868	60.8
3	1	Intel	49,804	7.6	49,427	0.8
4	6	SK hynix	44,186	6.7	23,077	91.5
5	4	Qualcomm	32,976	5.0	29,229	12.8
6	5	Broadcom	27,801	4.2	25,613	8.5
7	12	Micron Technology	27,619	4.2	16,153	71.0
8	7	AMD	24,127	3.7	22,307	8.2
9	8	Apple	20,510	3.1	18,052	13.6
10	13	MediaTek	15,934	2.4	13,451	18.5
		Others (outside top 10)	270,536	41.2	269,031	0.6
		Total Market	655,882	100.0	542,054	21.0

Source: Gartner (April 2025)

Gartner clients can learn more in “Market Share: Semiconductors by End Market, Worldwide, 2024.”

About Gartner for High Tech Leaders

Gartner for High Tech equips tech leaders and their teams with role-based best practices, industry insights and strategic views into emerging trends and market changes to achieve their mission-critical priorities and build the successful organizations of tomorrow. Additional information is available at www.gartner.com/en/industries/high-tech.

About Gartner

Gartner delivers actionable, objective insight that drives smarter decisions and stronger performance on an organization’s mission-critical priorities.