Semiconductor sales to hit $676 billion in 2022 on strong demand, Gartner says – The National

Semiconductor sales to hit $676 billion in 2022 on strong demand, Gartner says – The National

The global semiconductor market, which was upended by Covid-induced supply chain frictions in 2020 and 2021, is projected to reap nearly 14 per cent more in revenue this year compared to 2021, to reach $676 billion, according to a new report by Gartner.

Driven by increasing demand and rising chip prices, the industry will hit $700.6bn in 2023, a yearly rise of 3.6 per cent, the US researcher said.

The average selling price (ASP) rise from the global chip shortage will be a major driver for growth, Alan Priestley, research vice president at Gartner, said.