A crisis in the semiconductor market that emerged during the epidemic could lead to higher electronics prices in 2023. It’s all said by a representative of his TSMC, the world’s largest microchip maker, that the cost of the product follows the Taiwanese firm, with similar statements made by major semiconductor makers such as Intel, Qualcomm. As you know, semiconductors are used in modern gadgets such as washing machines, smartphones, electric toothbrushes, and automobiles. And rising chip prices will undoubtedly drive up the cost of electronics in the near future.
Consumers experience price increases
Experts say rising semiconductor prices will affect the price of almost every product we use in our daily lives. Additionally, the cost of services provided by telecommunications, Internet and entertainment service providers will be affected. Simply put, Netflix and Apple TV+ monthly subscriptions will cost more than they used to. The price increases are related to providers switching to newer hardware running on increasingly expensive semiconductors. Luckily, the iGaming platform, which provided free access to gambling entertainment, was not affected. So regular users can play casino games https://slotv-india.com/ and other his iGaming platform without paying monthly subscription.
Given the difficulties encountered during COVID-19, the price hike claims are not surprising. During the pandemic, major market players have always struggled with supply chain issues and reduced production capacity as people were forced to self-isolate. However, global economic problems and rising raw material prices are driving up the production costs of chips and ICs.
Long-term trend of rising prices
According to Tirias Research, there is still no quick solution to the problems raised in the semiconductor sector. Construction of a new plant is currently underway to augment existing production capacity. However, older production facilities continue to face existing supply constraints. In industries such as automotive, industrial and healthcare, it will take up to 10 years for existing demand and production requirements to level off in capacity. Moreover, the construction of new plants has come at the expense of funds pledged by the US and EU governments, but the input and expenditure of funds have been very slow. Resetting the demand seems to be the only way to fix the problem. However, this will be followed by an imminent market correction and general recession. And the only thing left for ordinary consumers to do is prepare for rising electronics prices in 2023.