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TAIPEI, TAIWAN, Oct 17, 2022 – (ACN Newswire) – Recent economic and geopolitical developments, on top of the supply chain shortages and tight inventories in some markets, have driven market watchers to reduce their forecast growth for the semiconductor industry this year. Gartner Inc., for one, reduced its earlier forecast of 13.6% global semiconductor revenue growth this year to just 7.4%.
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The market research firm, however, noted that this down cycle is not new and has happened many times before. Despite the softness in the consumer market, demand remains resilient in the data center sector due to the continued investment in cloud infrastructure, while the automotive The electronics sector is expected to see double-digit growth amid the increasing IC content per vehicle due to the transition to electric and autonomous cars.
Overall, the outlook remains bright for the semiconductor industry. According to industry association SEMI, global equipment semiconductor billings rose by 7% quarter-on-quarter in the second quarter this year, and by 6% year-over-year to $26.43 billion. Taiwan, China, and South Korea led the rest…
Full story available on Benzinga.com
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