, /PRNewswire/ -- In the first quarter of 2024, the experienced approximately 2% decline falling to according to Omdia's new . Typically, the first quarter of the year sees a downturn with the market dropping 4.4% by revenue following a strong fourth quarter being driven by seasonal demand.
Most segments within the semiconductor market faced declines this quarter. The consumer segment was hit the hardest dropping 10.4% from 4Q23 while the industrial segment dropped 8.
5% due to inventory adjustments. Even the automotive segment, which has seen steady growth for years, turned negative with a 5.1% decline in 1Q24.
The drops in these segments were offset by quarterly growth in the data processing division, which increased 3.7%, driven by a continuous high demand for NVIDIA's chips and other AI-related products. NVIDIA maintains its robust growth trajectory expanding its market share by more than two percentage points now representing 14.
5% of the total semiconductor market revenue. Despite overtaking the traditional semiconductor leaders, Samsung and Intel who collectively hold 18.6% of the semiconductor market revenue, NVIDIA continues to gain ground.
Additionally, with the resurgence of memory growth, SK Hynix and Micron rose in their market share rankings. The automotive sector which initially resisted the industry-wide semiconductor market growth triggered by the COVID-19 pandemic, eventually succumbed to decline but quickly recovered. After 13 consecutive quarters of revenue.
