The World Semiconductor Trade Statistics (WSTS) has released its new semiconductor market forecast generated in May 2022. Due to the COVID-19 situation, WSTS was unable to have a forecast meeting. This forecast was developed using the online forecast tool by WSTS member companies.
The Worldwide Semiconductor Market is expected to increase 16.3 percent in 2022, continuing to grow by 5.1 percent in 2023.
Following a strong growth year of 26.2 percent in the year 2021, WSTS expects another year of double-digit growth for the worldwide semiconductor market in 2022 with a forecast of $646 billion, up 16.3 percent.
WSTS forecasts strong chip demand for another consecutive year, with most major categories expected to see high teens year-over-year growth in 2022, led by Logic with 20.8 percent growth, Analog with 19.2 percent growth, and Memory with 18.7 percent growth. Optoelectronics remains the weakest category in the forecast and is expected to be roughly flat (+0.3 percent) year over year.
In 2022, all geographical regions are expected to show growth. The largest region, Asia Pacific, is expected to grow 13.9 percent. The Americas are expected to show growth of 22.6 percent, Europe 20.8 percent, and Japan 12.6 percent.
Worldwide Semiconductor Market growth is expected to grow further in 2023
For 2023, the global semiconductor market is projected to grow by 5.1 percent to US$ 680 billion, driven by mid-single digit growth in the Logic and Analog categories. In this latest forecast, the Logic category is projected to reach US $200 billion in 2023, roughly 30% of the total market.
All other product categories are also expected to show positive growth rates. All regions are expected to grow in 2023