{"id":3454,"date":"2021-05-09T09:10:27","date_gmt":"2021-05-09T09:10:27","guid":{"rendered":"https:\/\/wellmaxgroup.com\/?p=3454"},"modified":"2021-09-28T11:47:04","modified_gmt":"2021-09-28T11:47:04","slug":"global-chip-shortage","status":"publish","type":"post","link":"https:\/\/wellmaxgroup.com\/global-chip-shortage\/","title":{"rendered":"Lighting Industry Is Being Hit by the Global Chip Shortage"},"content":{"rendered":"<table width=\"731\">\r\n<tbody>\r\n<tr>\r\n<td width=\"731\">The ongoing global chip shortage has roiled the automotive and consumer technology industries for months. But the ripple effects of the crisis, which could last into 2022, stretch far beyond automakers idling plants and consumers waiting longer for the latest gaming consoles.<br \/><br \/>According to an analysis by Goldman Sachs (GS), the semiconductor shortage touches a mind-blowing 169 industries in some way. We&#8217;re talking everything from steel product and ready-mix concrete manufacturing to industries that build air conditioning systems and refrigerators to breweries. Even soap manufacturing is impacted by the chip crisis.<br \/><br \/>The graphic below breaks down the various industries that are dealing with the shortage.<br \/><br \/><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-3455\" src=\"https:\/\/wellmaxgroup.com\/wp-content\/uploads\/2021\/09\/Global-Chip-Shortage.png\" alt=\"\" width=\"653\" height=\"480\" srcset=\"https:\/\/wellmaxgroup.com\/wp-content\/uploads\/2021\/09\/Global-Chip-Shortage.png 653w, https:\/\/wellmaxgroup.com\/wp-content\/uploads\/2021\/09\/Global-Chip-Shortage-600x441.png 600w, https:\/\/wellmaxgroup.com\/wp-content\/uploads\/2021\/09\/Global-Chip-Shortage-500x368.png 500w\" sizes=\"(max-width: 653px) 100vw, 653px\" \/><br \/><br \/>To determine which industries were hit by the shortage, Goldman Sachs looked at each industrys&#8217; need for microchips and related components as a share of their GDP. Industries that spend more than 1% of their GDP on chips, the firm says, will be impacted by the semiconductor shortfall. For reference, in the automotive sector, 4.7% of industry GDP is spent on microchips and related semiconductors, on this basis, according to Goldman.<br \/><br \/>Chips aren&#8217;t exactly easy to make, either, with advanced semiconductors taking up to 6 months to produce. The chip crisis is still far from over, however, and as industry leaders and politicians work to ease the strain on manufacturers, consumer goods will still cost more as a result, with Goldman predicting a 1% to 3% jumping in prices.<br \/><br \/>In other words, if you&#8217;re in need of a car or some kind of laptop or other piece of consumer tech like LED lights, now is the time to buy \u2014 if you can find them.<br \/><br \/><em>Source: Yahoo Finance, GOLDMAN SACHS<\/em><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>","protected":false},"excerpt":{"rendered":"<p>The ongoing global chip shortage has roiled the automotive and consumer technology industries for months. But the ripple effects of the crisis, which could last into 2022, stretch far beyond automakers idling plants and consumers waiting longer for the latest gaming consoles. According to an analysis by Goldman Sachs (GS), the semiconductor shortage touches a &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/wellmaxgroup.com\/global-chip-shortage\/\"> <span class=\"screen-reader-text\">Lighting Industry Is Being Hit by the Global Chip Shortage<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":3455,"comment_status":"open","ping_status":"open","sticky":false,"template":"wellmax-single-post.php","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[7],"class_list":["post-3454","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lighting-industry-insights","tag-wellmax"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Global Chip Shortage - Wellmax<\/title>\n<meta name=\"description\" content=\"The ongoing global chip shortage has roiled the automotive and consumer technology industries for months.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wellmaxgroup.com\/global-chip-shortage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global Chip Shortage - 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