The semiconductor market is expected to grow by 4.4% in 2022
Following strong a growth of 26.2% in the year 2021, the World Semiconductor Trade Statistics (WSTS) forecast a total size of USD 580 billion for the worldwide semiconductor market in 2022, i.e., up 4.4%.
The WSTS forecast updated the growth estimation as inflation rises and end markets see weaker demand, especially those exposed to consumer spending. Some major categories are still expected to see double-digit year-over-year growth in 2022, led by analog devices with 20.8%, sensors with 16.3%, and logic with 14.5% growth. Memory is expected to turn negative in the forecast and decline with 12.6% year over year, reports The European Semiconductor Industry Association (ESIA).
In 2022, all geographical regions are seen to show double-digit growth except Asia-Pacific. The largest region, Asia-Pacific, is expected to decline 2.0%. The Americas region is expected to show growth of 17.0%, Europe 12.6%, and Japan 10.0%.
Worldwide semiconductor market is expected to decline slightly in 2023
For 2023, the global semiconductor market is projected to decline by 4.1% to USD 557 billion, driven by the memory segment. In this latest forecast, this category is projected to fall to USD 112 billion in 2023, dropping by 17% compared to the previous year. Some other major categories showing single-digit growth like optoelectronics, sensors, discretes and analog.
All regions are expected to remain flat in 2023, only Asia-Pacific is estimated to decline by 7.5% year over year.
