Although the current situation of the global chip market is not optimistic, many companies are still optimistic about the long term. ASML, which supplies lithography machines to chip manufacturers, believes that it will grow in the medium and long term.

Judging from foreign media reports, ASML CEO and President Peter Wennink said at a press conference in Seoul last week that although the short-term downturn in the global chip market continues, the Chinese long-term will only grow.

Peter Vinick predicts that in the next 10 years, the global chip market will maintain an average annual growth rate of 9%, and the market size in 2030 will reach 1 trillion to 1.3 trillion won (about 6.916 billion yuan).

It is worth noting that in addition to ASML, Samsung Electronics, the world’s largest memory chip manufacturer, is also full of confidence in the future. Foreign media mentioned in previous reports that a senior executive of Samsung Electronics said that they do not consider Artificial production cuts, because they need to prepare for demand recovery from a mid-to long-term perspective.

The post ASML CEO expects global chip market to grow at an average annual rate of 9% in the next 10 years appeared first on TechGoing.

The agency said the chip market will contract by 9 percent in the third quarter of this year and will contract further by 8 percent in the fourth quarter, then by 3 percent again in the first quarter of 2023.

After bottoming out in the first quarter, the chip market is expected to start recovering in the next quarter of next year, IC Insights said.

The analyst said the global chip market has had only six contractions of three consecutive quarters in its history since the 1970s. These periods were 1981, 1985, 1996, 1997 to 1998, and 2001.

On all of these occasions, the market rebounded after three consecutive quarters of contraction.

The sixth period was between 2018 and 2019. In the fourth quarter of 2018, the chip market contracted by 9%, followed by a sharp contraction of 17% in the following quarter. After another 1% decline in the second quarter of 2019, the market recovered in the third quarter.

However, there are still uncertainties, such as some international trade wars.

In addition, while the chip market is expected to grow again in the second quarter of next year, on an annual basis, the global chip market is expected to contract by 3% in 2023 compared to a year ago.

The post IC Insights agency: Global chip market will recover in Q2 next year appeared first on TechGoing.