Feb. 17, 2023 /SemiMedia/ -- According to the report citing the forecast of International Data Information (IDC), the total global semiconductor revenue will decline by 5.3% in 2023 due to inventory adjustment and weak demand.

IDC said that inventory adjustments began in the first half of 2022 and continued to the second half of 2022, and are expected to bottom out in the first half of 2023.

IDC predicts that the total global semiconductor revenue will decrease by 5.3% annually in 2023. The first three quarters will all decrease compared with last year, and the fourth quarter will increase. Among them, in 2023, the Internet of Things market will decline by 3.1%, the data center market will decline by 5.5%, and the storage market will decline by 23.8%. However, the automotive and communication markets are expected to rise, with growth of 2.1% and 1.3% respectively.

IDC also predicts that wafer foundry revenue is expected to increase by 18.6% to $143.8 billion in 2024, and will approach $194.7 billion in 2026.