Gartner: The global semiconductor market will decline by up to 3.6% in 2023

According to the latest report released by market research firm Gartner, the global semiconductor market will grow by 26.3% in 2021, and the growth will shrink to 4% in 2022, while the highest decline in 2023 will be 3.6%.

This may not come as a surprise to those following recent developments in the semiconductor market, though actual 2023 revenues will be closer to 2021. Gartner believes that the shrinking of the semiconductor market is related to the increase in manufacturing costs, and consumer demand is expected to decline further in 2023 due to reduced disposable income of consumers, rising inflation and increased costs elsewhere. According to Gartner, the enterprise market has been relatively stable. The decline in semiconductor demand will not be as pronounced as in the consumer market.

Gartner predicts that there will be a significant oversupply in the memory market, so the market will experience a maximum decline of 16.2% in 2023, and the NAND flash market will experience a maximum decline of 13.7%.

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