According to a report published by IC Insights, total semiconductor sales in 2022 are expected to increase by 11% to a record $680.6 billion after global revenue climbed 25% in the 2021 economic rebound from the 2020 outbreak of the Covid-19 virus crisis.

The report shows the total semiconductor market growing at a low double-digit rate in 2022. Sales growth is expected to slow, but remain above average, in all major semiconductor product categories

IC Insights: Semiconductor sales expected to grow 11% in 2022-SemiMedia

Worldwide integrated circuit revenues are expected to rise 11% in 2022 to an all-time high of $565.1 billion and the rest of the semiconductor market—consisting of optoelectronics, sensors/actuators, and discretes (collectively, O-S-D devices)—is also projected to grow 11% this year to a record-high $115.5 billion, based on IC Insights’ forecast in the report.

IC Insights pointed out that in the 2021 economic turnaround, unit shipments of many widely used semiconductor products could not keep up with increasing demand from system and equipment manufacturers—including carmakers—that struggled to keep up with recoveries in their own markets. Unit purchases of ICs climbed 22% while shipments of O-S-D devices increased 20%. Those were amazing gains considering that over the past 10 years, IC shipments have increased by a compound average growth rate (CAGR) of 7.4% and O-S-D units have increased by a CAGR of 4.7%. The IC Insights new McClean Report 2022 forecasts that more than 1.3 trillion semiconductor devices—about 432.0 billion ICs and 889.3 billion O-S-D devices—are expected to ship in 2022, an increase of 10% for both segments.