The global semiconductor market is forecast to drop 10.3 percent in 2023 to $515 billion, and increase 11.9 percent in 2024 to $576 billion as compared with growth of 3.3 percent to $574.1 billion in 2022, WSTS said.
The World Semiconductor Trade Statistics (WSTS) organization has adjusted its growth projections downwards in response to increasing inflation and weakening demand in end markets.
Two primary categories, Discrete and Optoelectronics, are predicted to sustain single-digit growth in 2023, at 5.6 percent and 4.6 percent respectively. Other categories are anticipated to shift into negative growth. This includes Memory, which is forecasted to decline by approximately 35 percent.
Semiconductor market in Europe and Japan is projected to grow at 6.3 and 1.2 percent. Semiconductor market in the Americas is expected to decline by 9.1 percent and the Asia Pacific region by 15.1 percent.
In 2024, the global semiconductor market is forecasted to surge by 11.8 percent to $576 billion – mainly driven by the Memory segment.
Memory segment is projected to have a market size of $120 billion in 2024, marking an over 40 percent increase compared to the previous year. Nearly all other key categories, including Discrete, Sensors, Analog, Logic, and Micro, are projected to exhibit single-digit growth.
In 2024, the Americas and Asia Pacific regions are estimated to showcase robust double-digit growth.
Meanwhile, the Semiconductor Industry Association (SIA) said global semiconductor industry sales were $40 billion in April 2023 compared to $39.8 billion in March 2023 and $50.9 billion in April 2022.
Month-to-month sales in April increased in China (2.9 percent) and Japan (0.9 percent), but decreased in Europe (-0.6 percent), the Americas (-1.0 percent), and Asia Pacific/All Other (-1.1 percent). Year-to-year sales in April were up in Europe (2.3 percent), but down in Japan (-2.3 percent), the Americas (-20.5 percent), Asia Pacific/All Other (-23.9 percent), and China (-31.4 percent).