Interesting Facts Regarding Global Chip Shortage 2020-21

Chip shortage is a semiconductor crisis that occurs when global demand for semiconductor chips is much more than production. Chip shortage can happen for multiple reasons. And we already know the major reasons behind the global chip shortage 2020-21. Let’s discuss a few interesting facts about the global chip shortage 2020-21.

• Now-a-days, electronics has its presence in a wide range of products. So, the current crisis has a deep impact on a variety of industries. According to an analysis by Goldman Sachs, the semiconductor shortage has impacted at-least 169 industries in one way or another.
• We all know that due to 2020-21 chip shortage, industries like automobiles, consumer electronics, smart phone, gaming consoles etc. are affected. But do you know that the industries like concrete manufacturing and soap manufacturing are even impacted?
• Automobile industry is the first to feel the heat of the chip crisis. At the beginning of the Covid pandemic, The car manufacturer incorrectly predicted that the sale would drop, thereby reducing the orders from the chipmakers. However, the car sale did not drop as expected. But, by the time automobile industries realized the same, the foundries (chipmakers) had larger chip demands from consumer electronics sectors, leading to lesser priority for automotive chips.
• According to a Bloomberg report, carmakers are now leaving out the high-end features (needing the electronic chips) due to the chip shortage.
• Chip shortage is directly impacting consumers as the price of electronics goods (TV, Smartphones, etc.), cars etc., are increasing.
• Due to the pandemic, people staying at home upgraded their electronic devices and purchased monitors, computers, webcams, smartphones etc., for their work and entertainment. The computer sale in the fourth quarter of 2020 showed a 26.1% growth over the previous year. Gartner reported that smartphone sales grew by 26% worldwide in the first quarter of 2021. Such large demand for computer and smartphone sales is a major factor in chip shortage.
• Due to chip shortages, the supply of Sony’s PlayStation console and Microsoft’s Xbox gaming consoles is long delayed. Gaming consoles are resold on websites like eBay for more price than their retail prices.
• The experts believe that the chip shortage would last until 2023.

There are many more such interesting facts regarding the current chip shortage crisis. Please mention in the comment section if you know some other interesting facts related to the global chip shortage 2020-21.