One looming artifact of the pandemic that remains in 2023—the global chip shortage —has gratefully begun to recede. Unlike the state of things in mid-2021—when crimps in the semiconductor supply chain cropped up in big ways—supply and demand have become much less of a mismatch.

The semiconductor shortage won’t end on a single date. Some companies are starting to see relief this year, while others may have to wait until 2024 or later.

In potential ‘light at the end of the tunnel’ news, a report from Counterpoint Research suggests the global semiconductor shortage could ease in the second half of 2022 as demand-supply gaps decrease.

While it’s clear that the shortage is slowing down and has virtually ceased in some areas — we’re no longer seeing automakers suspending their production activity on a weekly basis due to chip shortages, for example — continued uncertainties risk stifling long-term progress, particularly in the U.S. where a lack of transparency surrounding subsidies has led to large-scale chip capacity projects grinding to a halt.