Global semiconductor market slated to grow by 19.7% in 2021

The World Semiconductor Trade Statistics (WSTS) has released its new semiconductor market forecast generated in May 2021. WSTS expects the worldwide semiconductor market growth to rise from 6.8% in 2020 to outstanding 19.7% in the year 2021, which corresponds to a market size of USD 527 billion. The largest growth contributors are Memory with 31.7%, followed by Sensors with 22.4% and Analog with 21.7%. All other major product categories are also expected to show double-digit growth-rates, with the exceptions of Optoelectronics with 9.8% and MOS Micro with 8.1%. In 2021, Asia Pacific (including China) is forecasted to show the strongest growth rate with 23.5%, followed by Europe with 21.1%, Japan 12.7% and Americas with 11.1%. Worldwide semiconductor market growth is expected to further grow in 2022 For 2022, the global semiconductor market is projected to grow to by 8.8% to US$ 573 billion, driven by a double-digit growth of the Memory category. All regions are expected again to show positive growth rates.