Top semiconductor vendors are Samsung Electronics (10.9 percent share), Intel (9.7 percent), SK Hynix (6 percent), Qualcomm (5.8 percent), Micron Technologies (4.6 percent), Broadcom (4 percent), AMD (3.9 percent), Texas Instruments (3.1 percent), MediaTek (3 percent) and Apple (2.9 percent) share in 2022.

The latest Gartner report said semiconductor revenue rose 1.1 percent to $601.7 billion in 2022 from $595 billion in 2021.

“2022 began with many semiconductor devices in shortage resulting in extended lead times and increasing pricing which led to reduced electronic equipment production for many end markets. As a result, OEMs started hedging themselves from shortages by stockpiling chip inventory,” said Andrew Norwood, VP Analyst at Gartner.

Samsung Electronics maintained the top spot though revenue declined 10.4 percent in 2022, primarily due to declines in memory and NAND flash sales.

Intel held on to the No. 2 position with 9.7 percent market share. Intel was impacted by the significant decline of the consumer PC market and strong competition in its core x86 processor businesses and revenue growth declined 19.5 percent.

Memory, which accounted for around 25 percent of semiconductor sales in 2022, experienced a 10 percent revenue decrease.

Most memory companies have announced capital expenditure (capex) reductions for 2023, and some have cut wafer production to reduce inventory levels and try to bring the markets back into balance, the report said.

Non-memory revenue grew 5.3 percent in 2022, but the performance varied wildly across the different device categories. The strongest growth came from analog with a 19 percent increase, closely followed by discretes, up 15 percent from 2021.