According to the latest report released by the market research agency Gartner, the total semiconductor revenue in 2023 is estimated to be 532 billion U.S. dollars, a year-on-year decrease of 11.2%.
The report pointed out that the total revenue of semiconductors in 2022 will be US$599.6 billion, a year-on-year increase of only 0.2%. This is mainly due to the downturn of the global economy, the obvious reduction in consumer demand, and the loss of interest in buying electronic products by businesses. On the other hand, the backlog of chip inventories has also depressed semiconductor prices.
PCs, tablets and smartphones accounted for 31% of semiconductor revenue as the COVID-19 pandemic pushed telecommuting into the new normal, but growth has been sluggish as the global pandemic has been brought under control.
In the automotive and industrial, military/civil aerospace semiconductor market, this year is expected to reach $76.9 billion, an increase of 13.8%.
One area that has severely hurt demand for semiconductors is the memory industry. The market is expected to see a 35.5% decline in revenue this year. The problem in this market is full inventory and weak consumer demand.
