Europe, power hold up 2023 semiconductor market
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The strength of the European market and power devices is leading to a better than expected semiconductor market forecast in 2023.
The latest figures from the WSTS show slightly better Q2 and Q3 results, with a revised forecast of 9.4% decline for the 2023 semiconductor market to $520bn.
This is anticipated to be followed by a robust recovery, with an estimated growth of 13.1 percent in 2024 as the memory sector recovers.
For 2023, Discrete Semiconductors, primarily propelled by Power Semiconductors, are projected to experience a 5.8 percent year-over-year growth. However, all Integrated Circuit categories, including Analog, Micro, Logic, and Memory, are expected to see 8.9% fall compared to the previous year. This downturn, though significant, is less pronounced than initially forecasted in May 2023.
WSTS lowers global chip market forecast for 2023
Only the European market is projected to experience growth in 2023, with an increase of 5.9 percent. The Americas expected to decline by 6.1 percent, the Asia Pacific region by 14.4 percent and Japan by 2.0 percent.
The outlook for 2024 points to a vigorous upswing in the worldwide semiconductor market, with projections indicating a 13.1 percent increase, reaching a valuation of US$588 billion. This growth is expected to be largely fuelled by the Memory sector, which is on track to soar to around US$130 billion in 2024, representing an upward trend of over 40 percent from the previous year. The majority of other principal segments, including Discrete, Sensors, Analog, Logic, and Micro, are also expected to see single-digit growth rates.
From a regional standpoint, all markets are poised for ongoing expansion in 2024. The Americas and Asia Pacific, in particular, are forecasted to demonstrate significant double-digit growth.
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