The semiconductor and other electronic component manufacturing expenses in Canada have seen continuous growth from 2013 to 2023. Within ten years, the expenses rose from 2.6431 billion CAD in 2013 to 4.6238 billion CAD in 2023. Notably, 2020 experienced a dip of -10.12% year-on-year due to various global disruptions, but the industry rebounded with a 9.41% increase in 2021 and continued growing in the following years. Over the last two years, the industry has seen a 6.5% and 5.19% year-on-year increase, respectively, and the CAGR from 2018 to 2023 was 2.57%. Looking ahead, the expenses are projected to continue their upward trend, reaching 5.2909 billion CAD by 2028, with a forecast 5-year CAGR of 2.14%, indicating a stable growth trajectory.
Future trends to watch for:
- Increased demand for advanced semiconductor technologies.
- Continued investments in AI and IoT technologies, driving higher expenses.
- Potential influence of global market conditions on supply chains and manufacturing costs.
