KUALA LUMPUR: Global semiconductor revenue is forecast to increase to US$450bil this year and climb to US$500bil in market size in 2024, with steady annual growth between 4% and 6%, according to International Data Corporation (IDC).
Underpinning the growth is the recovery in economic growth after the Covid-19 pandemic and this is expected to spark an expansion of the semiconductor industry, according to the virtual SEMI industry strategy symposium (ISS) last week.
The US-based Semiconductor Equipment Manufacturers Industry (SEMI) said in a statement posted on its website that global semiconductor revenue is set to rise as much as 7% in 2021.
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