Late last month, President Joe Biden signed an executive order to kick-start the implementation of the $280 billion CHIPS and Science Act, aimed at boosting the U.S. domestic chip-making market. The United States has also been encouraging foreign tech firms to manufacture in the country and expects an arrangement with Taiwan.
Moreover, the World Semiconductor Trade Statistics (WSTS) has forecasted the global semiconductor market to register another double-digit growth this year. The worldwide market is estimated to increase by 13.9% in 2022 and 4.6% in 2023.
