These are unprecedented times for the semiconductor industry. A report from market research company IC Insights predicts sales will top $500 billion in 2021, and that the surge will continue through to 2023 when sales could exceed $600 billion.
Adds IC Insights, “In a very rare event, 32 of the 33 major IC market categories defined by WSTS are forecast to enjoy an increase in sales this year, with 29 of the product categories expected to see significant double-digit gains.”
The company expects the surge in chip demand caused by the Covid-19 pandemic could last well into 2022.
Throughout the forecast period, momentum is expected to surge for 5G connectivity, artificial intelligence, deep learning, virtual reality, and other emerging applications in mobile, data centre and cloud-computer servers, automotive, and industrial markets, resulting in a robust IC market CAGR of 10.7% from 2020-2025.