Global semiconductor market to see robust growth in 2024 and 2025

The World Semiconductor Trade Statistics (WSTS) has released its latest forecast for the global semiconductor market, anticipating robust growth in 2024 and 2025.

2024 forecast: Strong recovery expected
WSTS has adjusted its Spring 2024 forecast upwards, projecting a 16% growth in the global semiconductor market, compared to the previous year. The updated market valuation for 2024 is estimated at US$611 billion. This revision reflects stronger performance in the last two quarters, particularly in computing end-markets.

For 2024, mainly two 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 US$687 billion. This growth is expected to be driven primarily by the memory and logic sectors.

Both are on track to soar to over US$200 billion in 2025 each, representing an upward trend of over 25% for memory, and over 10 percent 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.