Gartner Lowers Revenue Forecast for Chip Market

Global semiconductor sales will grow less strongly this year than in 2021. Research firm Gartner is adjusting its forecast downwards.

 

Revenue in the chip market is expected to increase by 7.4% in 2022, Gartner now predicts. However, that growth is lower than in 2021, when the market still recorded a growth of 26.3%.

The expected growth is also lower than Gartner predicted last quarter; At the time, the company was still projecting 13.6% growth for 2022.

“While chip shortages are receding, the global semiconductor market is entering a period of weakness. It will continue through 2023 when semiconductor sales are expected to shrink by 2.5%,” said Richard Gordon, Practice VP at Gartner.

“We already see weakness in the semiconductor end markets, especially those exposed to consumer spending. Rising inflation, taxes, interest rates, and higher energy and fuel costs are putting pressure on consumer disposable income. This has consequences for spending on electronic products such as PCs and smartphones.’

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