Edge computing propels NXP’s revenue to $15B in 2024

“This is much more than just a short-term cyclical rebound,” NXP CEO Kurt Sievers said, referring to markets springing back to life – and then some – in the second half of 2020, following the pandemic-caused slowdowns earlier last year. “I believe this is a value reset for the semiconductor industry, which is here to stay.” Having experienced stinging shortages, never again will downstream industries consider semiconductors as a commodity, Sievers added. Semiconductors are essential ingredients for growth, and everybody knows it.

So, good times for chipmakers, then. NXP, too, will share in the bounty. Speaking at his company’s 2021 Investor Day in New York, Sievers revealed that he expects annual revenue to grow to roughly 15 billion dollars in 2024, up 36 percent from the projected 11 billion dollars this year. That’s more than double the revenue growth in the 2018-2021 time frame.