The semiconductor industry looks set for an impressive growth this year with the market on track to achieve a 9.4% expansion. With an estimated revenue of $353.2 billion, this is the highest rate of annual growth since 2010!
The report from IHS Technology believes the reason for this vast growth is due to the broad based nature of market expansion. Rather than just a few specific sectors doing well, 2014 saw a wider increase across the industry as a whole.
“While the upswing in 2013 was almost entirely driven by growth in a few specific memory segments, the rise in 2014 is built on a widespread increase in demand.” said Dale Ford, vice president and chief analyst at IHS Technology.
A further report from MIDF Equities Research found that global semiconductor sales rose 9.1% and has consistently outpaced itself for the 19th consecutive month. MIDF Research said this growth was due to the increased demand for smartphones, particularly in the emerging markets. This, combined with the growing popularity of wearable technology will only further help to boost the semiconductor industry as a whole. And that is never a bad thing!
Keep up to date with how the industry performs for the rest of the year by following us on Twitter, liking us on Facebook and connecting on Google+