U.K., April 12 -- When you consider all of the intricate parts necessary to make tech work in the modern-day, it'd be safe to say that the increasingly well-known "semiconductor" is the brain of any electrical device you now own. The semiconductor industry is responsible for creating a component that enables advancement in communications, computing, healthcare, military systems, transportation, clean energy, and a myriad of other applications. Needless to say, it's playing an increasingly important part in everyday life.

Back in January, the team at Gartner calculated, through preliminary findings, that the semiconductor industry's worldwide market revenue had grown by approximately 7.3 per cent, but in a recent announcement, it turns out...