Experts from the analytical company IC Insights have prepared a forecast for 2022 related to the global semiconductor market. Analysts said all major product categories are expected to grow above average, and producer revenues for the year as a whole will be at record highs, despite slowing growth after last year’s massive recovery.
More specifically, total semiconductor sales in 2022 are projected to grow by 11% compared to 2021. In absolute terms, the market will reach a record high volume of $680.6 billion. In comparison, the market grew by 25% in 2021 as a result of the economic recovery from the 2020 virus crisis.
Global chip sales are expected to rise 11% to a record $565.1 billion. The rest of the market, which includes optoelectronic devices, sensors and discrete elements (collectively referred to as OSD), is also forecast to grow by 11%, to a record level of $115.5 billion.
During the economic recovery in 2021, shipments of many widely used semiconductor products could not meet growing demand from system and equipment manufacturers, including automakers, who struggled to keep up with the pace of recovery in their own markets, analysts recall. According to IC Insights, chip sales grew 22% year-over-year, OSD sales grew 20%. This is an astounding growth considering that the cumulative average growth rate in the chip segment over the past 10 years was 7.4% and in the OSD segment 4.7%.
It remains to be added that about 432.0 billion chips and 889.3 billion OSD products will be shipped this year. In both segments, deliveries in quantitative terms will increase by 10% compared to 2021.