In its Spring 2021 Forecast WSTS also revised its view of the market in 2020 upwards to $440.4 billion from the previously given estimate of $433.1 billion (see WSTS raises chip market forecast for 20/21 ).
With the increased growth percentage WSTS is now forecasting the global chip market will reach $527.2 billion in 2021 and $573.4 billion in 2022. This growth is likely to be fuelled by increased average selling prices (ASPs) as a "sold-out" chip manufacturing sector can only begin to increase manufacturing capacity in 2022.
WSTS Spring 2020 forecast summary through 2022. Note: numbers in the table are rounded to whole millions of dollars, which may cause totals by region and by product groups to differ slightly. Source: WSTS.
WSTS said the largest contributors to growth in 2021 are set to be memory components with 31.7 percent, followed by sensors with 22.4 percent and analog with 21.7 percent.
All other major product categories are also expected to show double-digit growth-rates, with the exceptions of optoelectronics with 9.8 percent and MOS Micro with 8.1 percent.
In 2021, Asia Pacific (including China) is forecasted to show the strongest growth rate with 23.5 percent, followed by Europe with 21.1 percent, Japan 12.7 percent and Americas with 11.1 percent.
All regions are expected to show positive growth in 2022 with the memory sector again showing double-digit percentage growth.
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