Gartner expects the global chip shortage to continue into 2021 and is expected to return to normal levels by the second quarter of 2022. The chip shortage stems primarily from demand for power management, display devices, and microcontrollers.

This shortage has now extended to other devices, with capacity constraints and needs in substrates, lead bonding, passive devices, materials, and testing. These are highly commoditized industries with little flexibility/capacity to make aggressive investments in a short period. (Sina Tech)