According to a recent forecast released by Semiconductor Intelligence, the global chip market will contract by 6% in 2023.

Semiconductor Intelligence pointed out that every 3% deceleration in global GDP growth will lead to a 16% decrease in semiconductor market growth, and its 2022 market growth forecast is based on global GDP growth. As global GDP expected to continue to decelerate by 0.3% to 1.0% in 2023, the chip market will also decline.

Semiconductor Intelligence also said that if the global economy is not weaker than currently expected, the semiconductor market should see a modest recovery in the second half of 2023, although there is still a fair chance that the global recession will deepen.

Semiconductor Intelligence expects that the semiconductor shortage will gradually subside in 2023, the traditional smartphone and PC markets should return to positive growth, and the driving role of markets such as automotive and IoT will be further highlighted.