KPMG: 79% of chip industry expects profits to grow in 2021 amid shortage

Despite the pandemic and economic downturn, the semiconductor industry grew 6.5% to $439 billion in 2020, and 79% of executives believe profits will increase in 2021, according to a report from accounting firm KPMG and the Global Semiconductor Alliance trade group. The semiconductor industry will continue growing due to the mainstream growth of the internet of things, 5G wireless networks, and the auto industry, according to the KPMG Global Semiconductor Industry Outlook.

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