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Global Semiconductor Market to Grow 10.1% to US$606.5 Billion in 2022: MIC
October 20, 2021


Global semiconductor market is estimated to grow 25.1% and 10.1% year-on-year in 2021 and 2022, reaching US$550.9 billion and US$606.5 billion, respectively. Taiwan’s government-backed research institute? MIC (Market Intelligence & Consulting Institute) presented its findings at MIC FORUM held from September 28 to October 8, 2021. Looking ahead to 2022, the development of emerging applications will continue to bolster the long-term demand for semiconductors. “With the full loaded capacity of IC manufacturing and packaging and testing services, it is anticipated that the supply-demand imbalance in the semiconductor market will not be resolved until 2022,” said Kai-an Cheng, senior industry analyst with MIC.

Global Semiconductor Market Value, 2011-2022


Source: MIC, October 2021

During the forecasted period 2021-2024, MIC estimates Taiwan’s foundry industry will witness a CAGR (Compound Annual Growth Rate) of 10%, followed by IC design’s 7.9%, memory’s 7.5%, and IC packaging and testing’s 7.2%. Overall, the Taiwanese semiconductor industry will still perform better than the global average during 2021-2022.

Established in 1987, MIC is a division of III (Institute for Information Industry), a major government think tank and IT research institute in Taiwan.

To know more about this topic, please visit:The Taiwanese Fabless IC Industry, 3Q 2021, Taiwanese Semiconductor Manufacturing Industry, 3Q 2021, Taiwanese IC Packaging & Testing Industry, 3Q 2021, Global Semiconductor Industry Development Trends and Emerging Applications, Recap and Outlook for The Taiwanese Semiconductor Industry, 2Q 2021 (pre-order)

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