According to WSTS, the updated semiconductor market valuation for 2023 is estimated at US$520 billion, marking a 9.4 percent decline from previous year. For 2023, Discrete Semiconductors, primarily propelled by Power Semiconductors, are projected to experience a 5.8 percent year-over-year growth. However, all Integrated Circuit categories, including Analog, Micro, Logic, and Memory, are anticipated to witness an 8.9 percent decline compared to the previous year. This downturn, though significant, is less pronounced than initially forecasted in May. Besides, for the year 2023, only the European market is projected to experience growth, with an increase of 5.9 percent. Conversely, the remaining regions are anticipated to face a downturn, with the Americas expected to decline by 6.1 percent, the Asia Pacific region by 14.4 percent and Japan by 2 percent. The outlook for 2024 points to a vigorous upswing in the worldwide semiconductor market, with projections indicating a 13.1 percent increase, reaching a valuation of US$588 billion. This growth is expected to be largely fuelled by the Memory sector, which is on track to soar to around US$130 billion in 2024, representing an upward trend of over 40 percent from the previous year. The majority of other principal segments, including Discrete, Sensors, Analog, Logic, and Micro, are also expected to record single-digit growth rates.
