The European Semiconductor Industry Association (ESIA) reports on the release of the new semiconductor market forecast generated in May 2022 by the World Semiconductor Trade Statistics (WSTS). Following a strong growth year of 26.2% in the year 2021, WSTS expects another year of double-digit growth for the worldwide semiconductor market in 2022 with a forecast of US$ 646 billion, up 16.3%.
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% growth, Analog with 19.2% growth, and Memory with 18.7% growth. Optoelectronics remains the weakest category in the forecast and is expected to be roughly flat (+0.3%) year-over-year.
In 2022, all geographical regions are expected to show growth. The largest region, Asia Pacific, is expected to grow 13.9%. The Americas are expected to show growth of 22.6%, Europe 20.8%, and Japan 12.6%.
Worldwide semiconductor market growth is expected to grow further in 2023
For 2023, the global semiconductor market is projected to grow by 5.1% 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.