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Global semiconductor market to experience ‘outstanding’ growth in 2021, WSTS forecasts

Semiconductor market
Global semiconductor market to experience ‘outstanding’ growth in 2021, WSTS forecasts

WSTS expects the worldwide semiconductor market to grow by 9.7% in 2021, reaching a market size of USD 527 billion (EUR 435 billion)

The latest report released by the World Semiconductor Trade Statistics (WSTS) indicates the worldwide semiconductor market will be worth USD 527 billion (EUR 435 billion) in 2021, an increase of 19.7% from 2020. The market is also forecast to grow by a further 8.8% to USD 573 billion (EUR 473 billion) in 2022.

“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 US$ 527 billion,” WSTS said in a press release.

“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%.”

The report showed that the Asia Pacific region (including China) will show the strongest growth rate at 23.5%,followed by Europe with 21.1%, Japan 12.7% and Americas with 11.1%.

The good news comes shortly after the global semiconductor industry for the World Semiconductor Council to discuss, amongst other topics, the future of the sector after the COVID-19 pandemic, the European Semiconductor Industry Association (ESIA) reported. “The consequences of the pandemic and a strong growth in orders covering all applications will continue to shape our market and industry’s supply chain dynamics. It is crucial that the WSC leads the way to a fair and transparent levelplaying field, built upon an efficient multilateral trading system,” ESIA President Jean-Marc Chéry said.

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