After 2019 ‘Downturn,’ IDC Sees 2% CAGR in Semiconductor Revenue Through 2023
After three consecutive years of revenue growth in semiconductor shipments, including a 13.2 percent increase in 2018, IDC forecast Wednesday that worldwide semiconductor revenue will decline 7.2 percent this year to $440 billion. The market is expected to recover in…
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2020 and maintain a 2 percent compound annual growth rate the next few years, reaching $524 billion in 2023. It expects market consolidation will begin to accelerate as the industry “gets more clarity” on the U.S.-China trade war, it said. A “broad weakness in demand specifically centered in China” is to blame for the “current market downturn” in semiconductors, as is the “ingestion of excess inventories” in automotive, mobile phones and “cloud infrastructure,” said IDC.