Global semiconductor revenue to soar 13.1% in 2024

TAIPEI (TVBS News) — The World Semiconductor Trade Statistics (WSTS) has projected a significant surge in global semiconductor revenue for 2024, forecasting a growth of 13.1% to US$588.364 billion.

Memory products are anticipated to be the primary catalyst, with revenues expected to jump by 44.8%. This contrasts with current-year revenues, which are estimated to close at approximately US$520.126 billion, a decline of 9.4%—slightly above the previous forecast of $515.095 billion.

Thanks to better-than-expected performances in the second and third quarters and improvements in certain end markets, WSTS has revised its current-year revenue predictions upward.

In the semiconductor sub-sectors, discrete semiconductors are projected to grow by 5.8% in 2023. However, optoelectronic products are anticipated to drop by 3%, sensors by 10.9%, and integrated circuits by 8.9%.

Among regions, Europe is the sole market expected to expand, by 5.9%, while the American market sees a predicted drop of 6.1%, Japan a dip of 2%, and the Asia-Pacific region a significant contraction of 14.4%.

Looking into 2024, growth is anticipated across all major markets and semiconductor product categories.

Besides the substantial increase in memory revenue, discrete semiconductors, optoelectronics, and sensors are forecasted to experience single-digit percentage rises.

Europe is predicted to grow by 4.3%, Japan by 4.4%, with the American market projected to lead with a substantial gain of 22.3%, while the Asia-Pacific is expected to grow by 12%.

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