The global semiconductor market will grow 8.4% to be worth US$469.4 billion in 2021, according to the World Semiconductor Trade Statistics.
The estimation is higher than WSTS’s early estimate of a growth of 6.2% announced in June.
The year 2018 posted record sales of US$468.7 billion. WSTS’s 2020 estimate is higher than this and will be the new record.
The worldwide semiconductor market will be worth US$433.1 billion this year, the firm said.
Memory will grow by 12.2%. Sensors will grow by 7.4%.
Memory will also grow by 13.3% in 2021 and lead the overall growth. Sensors will grow 7.8% in 2021.
WSTS said 5G smartphones, the recovery of the automobile market and demand from data centers was leading the growth. The market suffered minimal effects from the COVID-19 pandemic, it said.