Global semiconductor industry likely to grow 16% in 2024, strong 2025

The 2024 forecast for the global semiconductor industry suggests that strong recovery can be expected.

World Semiconductor Trade Statistics (WSTS) has adjusted its Spring 2024 forecast upwards, projecting a 16% percent growth in the global semiconductor market compared to the previous year. The updated market valuation for 2024 is estimated at $611 billion. This revision reflects stronger performance in the last two quarters, particularly in computing end-markets.

For 2024, mainly two integrated circuit (IC) categories are anticipated to drive the growth for the year with double-digit increase -- logic with 10.7% and memory with 76.8%. Conversely, other categories such as discrete, optoelectronics, sensors, and analog semiconductors are expected to experience single-digit declines.

The Americas and Asia Pacific regions are projected to see significant growth, with increases of 25.1% and 17.5%, respectively. In contrast, Europe is expected to show marginal growth of 0.5 %, while Japan is forecasted to see a slight decline of 1.1%.

2025 outlook: Continued solid growth
Looking ahead to 2025, WSTS forecasts a 12.5% growth in the global semiconductor market, reaching an estimated valuation of $687 billion. This growth is expected to be driven primarily by the memory and logic sectors, each of whom are on track to soar to over $200 billion in 2025, representing an upward trend of over 25% for memory and over 10% for logic from the previous year. All other segments are anticipated to record single-digit growth rates.

In 2025, all regions are poised for continued expansion. The Americas and Asia Pacific are expected to maintain their double-digit growth on a year-over-year basis.