The memory market is estimated to total $92.3 billion.
According to Gartner’s latest forecast, in 2022, the market will total $599.6 billion, a slight increase of 0.2 percent from 2021.
Global semiconductor revenue is projected to decline 11.2 percent in 2023 to reach $532 billion, and the short-term outlook for the semiconductor market has deteriorated further, a report showed Wednesday.
According to Gartner’s latest forecast, in 2022, the market will total $599.6 billion, a slight increase of 0.2 percent from 2021.
The PC, tablet, and smartphone semiconductor markets are stabilizing. The combined market will represent 31 percent of semiconductor revenue in 2023 and total $167.6 billion.
“As economic headwinds persist, weak end-market electronics demand is being transmitted from consumers to businesses, creating an uncertain investment climate,” said Richard Gordon, practice vice president at Gartner.
In addition, an oversupply of chips that is driving up inventory and driving down chip prices is exacerbating the decline in the semiconductor market this year,” Gordon said.
The memory industry is dealing with overcapacity and excess inventory, which will continue to put significant pressure on average selling prices (ASPs) in 2023.
The memory market is projected to total $92.3 billion, a decline of 35.5 percent in 2023. However, it is on pace to rebound with a growth of 70 per cent in 2024.
The DRAM market will see significant oversupply for most of 2023 due to weak end-equipment demand and high inventory levels despite flat bit production by DRAM vendors.
DRAM revenue will drop 39.4 percent to $47.6 billion this year. The report mentions that the market will move towards short supply in 2024 and DRAM revenue is set to grow by 86.8 percent.
The dynamics for the NAND market will be similar to those for the DRAM market. As a result, NAND revenue is projected to decline 32.9 percent to $38.9 billion in 2023.
“The high-volume, high-dollar content market drivers of the past decades are coming to an end, particularly in the PC, tablet and smartphone markets where technology innovation has been lacking,” Gordon said.
In addition, COVID-19 and trade tensions between the US and China have fueled globalization trends and the rise of techno-nationalism.
“Semiconductors are viewed today as an issue of national security,” Gordon said.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
