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Gartner: Worldwide semiconductor revenue growth expected to slow to 7% in 2022

08/08/2022 Gartner, semiconductor revenue, chip shortage, semiconductors


  According to Gartner's latest forecast, worldwide semiconductor revenue is expected to grow 7.4% in 2022, down from the previous quarter's forecast of 13.6% and well down from 26.3% in 2021.

  "While chip shortages are easing, the global semiconductor market is entering a period of weakness that will persist through late 2023, when semiconductor revenue is expected to decline by 2.5%," said Richard Gordon, vice president of research at Gartner. "The semiconductor end market has seen Weakness, especially in those markets that are impacted by consumer spending. Rising inflation, taxes and interest rates coupled with higher energy and fuel costs are putting pressure on consumers' disposable income, impacting their purchases in electronics such as PCs and smartphones expenditures.”

  As economic conditions continue to deteriorate throughout the year, total global semiconductor revenue is expected to be $639.2 billion in 2022, a decrease of $36.7 billion from the previous quarter's forecast. Both demand and prices for memory have loosened, especially in consumer-related segments such as PCs and smartphones, further slowing growth.

  PC shipments will decline 13.1% in 2022, following growth in 2020 and 2021. Semiconductor revenue from PCs is estimated to decline 5.4% in 2022. Growth in semiconductor revenue from smartphones will slow to 3.1% in 2022, down from 24.5% in 2021.

  From a business perspective, inventories are recovering rapidly, lead times are starting to shorten and prices are showing weakness.

  Gordon said: "The semiconductor market is entering an industry down cycle, which has happened many times before, so we are not new to this. While the consumer space will slow down, continued cloud infrastructure investment will allow from Semiconductor revenue in the data center market remains resilient for a longer period of time (20% growth in 2022). In addition, as the automotive industry transitions to electric and autonomous vehicles, the semiconductor content per vehicle will increase, so the automotive electronics segment will continue to grow in Double-digit growth will continue over the next three years. Semiconductor content per vehicle is expected to increase from $712 in 2022 to $931 in 2025.”

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