Taipei, Feb. 22 (CNA) The output value of Taiwan's semiconductor industry in 2020 topped NT$3 trillion (US$107.53 billion) for the first time ever, and it is expected to build on that performance this year, a local technology institute said Monday.
In 2020, the output of the domestic industry jumped by 20.9 percent year-on-year to reach NT$3.22 trillion, outperforming its global rivals, according to the Industry, Science and Technology International Strategy Center under the Industrial Technology Research Institute.
The global semiconductor market grew 6.8 percent in 2020 to US$440.4 billion, boosted by strong demand from the digital transformation and growing stay-at-home economy seen during the COVID-19 pandemic, the center said.
That strong market is likely to carry over to 2021, leading to an 8.6 percent increase in the output of Taiwan's semiconductor industry to another new high of NT$3.49 trillion, the center forecast.
Taiwan's semiconductor industry, covering IC manufacturing, design, and packaging, forms a major part of Taiwan's IT industry. Its strong OEM wafer manufacturing capabilities and complete supply chain have enabled it to stand out from other competitors and dominate the global marketplace.
Taiwan Semiconductor Manufacturing Company (TSMC) alone accounts for more than 50 percent of the global contract chipmaking market.
Both TSMC and a smaller chipmaker, United Microelectronics Corp., set records for consolidated sales in 2020 at NT$1.33 trillion and NT$176.8 billion, respectively, according to the center.
The domestic IC design sector saw its production value rise 23.1 percent in 2020 to NT$852.9 billion, while the output of the IC testing sector and packaging sector grew by 11.1 percent and 9 percent to NT$171.5 billion and NT$377.5, respectively, the center said.
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