The global semiconductor industry is expected to hit $600 billion this year and $1 trillion by 2030. Driven largely by automotive, computing, and wireless applications, the growth of the semiconductor industry shows no signs of slowing down soon.

The chip shortage of the past two years caused an estimated $500 billion in missed sales, at least $210 billion in the automotive industry alone. Pent-up demand for microchips, combined with the mass adoption of such technology as artificial intelligence (AI) and electric vehicles (EVs), means major growth potential for semiconductor producers.

To best position themselves for the semiconductor revolution, investors should pay close attention to the players involved. Let's take a look at two small-cap American semiconductor stocks, which have both taken a beating this year but yet have great long-term potential.

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Source Fool.com