Semiconductor market expected to increase 5.1% in 2020
The worldwide semiconductor market is forecasted to be $433bn in 2020 – an increase of 5.1% from 2019 – reports the European Semiconductor Industry Association (ESIA) based on the latest WSTS forecast data.
The World Semiconductor Trade Statistics (WSTS) has released its new semiconductor market forecast generated in November 2020.
WSTS expects the world semiconductor market to be up by 5.1% to $433bn in 2020. This reflects expected growth in all major product categories except Optoelectronics and Discrete Semiconductors. The largest growth contributors are Memory with 12.2% followed by Sensors with 7.4%. In 2020, Americas and Asia Pacific regions are expected to grow.
For 2021, the global semiconductor market is projected to grow by 8.4%, driven by double-digit growth of Memory and Optoelectronics. All other product categories are also expected to show positive growth rates. All regions are expected to grow in 2021.
The semiconductor market overall is not as negatively impacted by the COVID-19 pandemic as originally expected earlier this year.
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