Research company Gartner forecast global semiconductor revenue growth would slow this year and drop in 2023, in part due to lower sales of smartphones and PCs.
Global semiconductor revenue was projected to increase 7.4 per cent in 2022 to $639 billion, markedly less than the 26.3 per cent recorded in 2021, with the figure in 2023 expected to decline to $623 billion.
Richard Gordon, practice VP, stated while “chip shortages are abating, the global semiconductor market is entering a phase of weakness”, though added such cycles are “not new and has happened many times before”.
He cited increasing “inflation, taxes and interest rates, together with higher energy and fuel costs” as factors affecting consumer spending.
Gartner predicted smartphone semiconductor revenue to grow 3.1 per cent in 2022 compared with 24.5 per cent in 2021.
It forecast PC shipments could decline 13.1 per cent, with related semiconductor revenue to fall 5.4 per cent.
Gordon stated revenue from the data centre market would increase 20 per cent due to continued cloud infrastructure investments.Subscribe to our daily newsletter Back