Analyst company IC Insights has published a report related to the global semiconductor market and includes a forecast for 2022. In it, in particular, the situation with microcircuits is considered.
According to analysts, in 2020 the chip market grew by 13%, and in 2021 by 26%. Growth is expected to be 11% this year. If the prediction is correct, this will be the first time in 25 years that the chip market has grown in double digits for three years in a row. The last time such a sequence was recorded was between 1992 and 1995. The dynamics over the years is clearly visible on the graph.
IC Insights notes that the industry experienced a sharp 15% drop in 2019 and then faced major economic uncertainty in the first half of 2020 due to the pandemic, which has changed the way people around the world live. A massive transition to a remote work, learning and entertainment model and a sharp acceleration in the digitalization of business served as a catalyst for growth in chip sales in the second half of 2020 and in 2021. This led to sales reaching $509.8 billion in 2021, breaking the $500 billion mark for the first time. As we have already reported, sales of all kinds of semiconductor products in 2021 reached $583.5 billion.