This year industry revenues are expected to be more than $500 billion. In 2023, the industry is forecast to top $600 billion.
32 of the 33 major IC market categories defined by WSTS are forecasted to increase sales this year, with 29 of the product categories expected to see double-digit gains.
A surge in demand means that ICs used in smartphones, computers, TVs, automobiles, and other applications remain in short supply—an industry condition that could last well into 2022.
Through 2025, momentum is expected to surge for 5G connectivity, artificial intelligence, deep learning, virtual reality, and other emerging applications in mobile, data center and cloud-computer servers, automotive, and industrial markets.