Semiconductor Sales To Rise By 20% In 2021 Globally - Trade Statistics

(@FahadShabbir)

Semiconductor Sales to Rise by 20% in 2021 Globally - Trade Statistics

MOSCOW (UrduPoint News / Sputnik - 19th June, 2021) Estimates by the World Semiconductor Trade Statistics Inc. (WSTS) found that international chip sales are expected to grow by 19.7% in 2021 and will continue growing by 8.8% in 2022, amid a rise in demand due to the COVID-19 pandemic.

"The Worldwide Semiconductor Market is expected to increase by 19.7 percent in 2021, continuing to grow by 8.8 percent in 2022," the report said.

The semiconductor market is expected to rise from a 6.8% market sale in 2020 to 19.7% in 2021, which will correspond to $527 billion. The value is expected to rise to $573 billion in 2022.

The report states that in 2021, the strongest growth rate with 23.

5% will be in the Asia Pacific (including China), followed by Europe with 21.1%, Japan at 12.7%, and the Americas with 11.1%.

The COVID-19 pandemic caused a surge for disruptions to the supply chain in the semiconductors market and the lack of semiconductor supplies has caused production declines in the automotive industry for many carmakers as well as electronics.

Working and studying from home increased the sale of laptops and computers which also require chips to operate. Many automakers were also unable to produce cars due to the lack of chips.