Last updated on December 8th, 2022 at 02:37 pm
This forecast is given by Technavio analysts
Analytical company Technavio has prepared a forecast for the semiconductor market. According to analysts, this market will grow steadily in the coming years. More precisely, between 2020 and 2024, the average annual growth will exceed 4%. If this forecast comes true, the specified market will grow by $ 90.80 billion. As for the current year, growth will be lower than in 2019 relative to 2018.
Semiconductor market to grow by $ 90.80 billion from 2020 to 2024
Among the market’s main trends, contributing to its growth, analysts highlight the increasingly widespread use of semiconductor chips in cars. They name Broadcom, Infineon Technologies, Intel, Micron Technology, Nvidia, NXP Semiconductors, Qualcomm, Samsung Electronics, SK Hynix, and Texas Instruments the main market participants. In general, according to Technavio experts, the market is highly fragmented, and the degree of fragmentation will increase over the forecast period.