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Devices and gadgets that could become more expensive due to the shortage of chips in 2023

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The semiconductor crisis The market that emerged during the epidemic years is expected to lead to an increase in the price of electronics in 2023. It all started with a statement from representatives of TSMC, the world’s largest chipmaker, that the cost of their products will increase in 2023. After the Taiwanese company, Intel, Qualcomm and other major semiconductor manufacturers have made similar statements. As we know, modern gadgets, be it a washing machine, a smartphone, an electric toothbrush or a vehicle, use semiconductors. And rising chip prices will undoubtedly drive up the cost of electronics in the near future.

Consumers will experience price increases

According to experts, the rising cost of semiconductors will affect the cost of almost everything we are used to using in daily life. In addition, the cost of services provided by communication, internet and entertainment service providers will also be affected. Simply put, monthly subscriptions to Netflix and Apple TV+ will now cost more than before. The price increase is linked to vendors switching to new hardware that runs on increasingly expensive semiconductors. Fortunately, iGaming platforms that provided free access to gambling will not be affected. So regular users will still be able to play casino games and other iGaming platforms without paying a monthly subscription.

Claims for price increases should come as no surprise given the difficulties encountered during COVID-19. Throughout the pandemic, major market players were constantly struggling with supply chain issues and a drop in production capacity caused by the forced isolation of people. However, global economic problems as well as rising raw material prices are factors that have pushed up the cost of producing chips and integrated circuits.

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Price growth is a long-term trend

According to Tirias Research, there is still no quick fix for the problems encountered in the semiconductor industry. Today, the construction of new factories has begun to increase the existing production capacity. However, the old production facilities will continue to face existing supply constraints. For industries such as automotive, industrial and healthcare, it will take up to 10 years before existing demand and production requirements stabilize with production capacity. Moreover, the construction of new factories comes at the expense of funds pledged by the US and European governments, which have been very slow in coming and being disbursed. Resetting the request seems like the only way to fix the issues. However, this will be followed by an impending market correction and general recession. And the only thing left for ordinary consumers to do is prepare for a rise in electronics prices in 2023.

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