This is what the executive placement company ON Partners claims in preparation for a trillion dollar chip market at the end of the decade
ON Partners, an executive and board member search firm announced a 30% growth in senior leadership opportunities in the semiconductor market since the announcement of the US Chip and Science Act that regulates the creation of incentives for chip manufacturing in the US. ON Partners was established in 2006 by senior executives in the chip industry.
“Since the Chip and Science Act passed, ON Partners has opened more than 30 categories in semiconductor, manufacturing and hardware related searches with clients such as Samsung Semiconductor, Allegro, Knowles, Onsemi and others,” said Brian Buck, partner at ON Partners. “This means the appetite for world-class senior leaders remains high across the entire semiconductor ecosystem. There is an even greater sense of urgency to put the right leaders in the right places.
The chip law was signed into law in August of last year and is intended to help increase the competitiveness, national security and innovation of the USA. The main goal is to help drive research and development (R&D) and create a more inclusive workforce in the fields of science, technology, engineering and mathematics (STEM). Leading technologies such as artificial intelligence, nanotechnology, quantum computing and clean energy will also be given a boost towards commercialization thanks to the chip law, with investments in semiconductor production capacity and recruitment of local talent.
“McKinsey estimates that global demand will continue to grow, with semiconductors positioned to become a trillion dollar industry by the end of the decade,” Buck continued. “Talented managers are in high demand to drive the next significant wave of growth – proven leaders who can optimize the money invested, create areas of innovation and market readiness and work within federal guidelines. The government wants to see a return on investment and support the growth of the industry, so it is ready to support companies that are serious about winning this technological race.” Buck said.