WSTS Releases 2024 Semiconductor Market Forecast Update

TapTechNews June 11, the World Semiconductor Trade Statistics Organization (WSTS) released the spring 2024 edition of the semiconductor market forecast earlier this month.

Compared with the previous forecast half a year ago, WSTS上调(increased) the forecast of the semiconductor market size in 2024 from 588.364 billion US dollars to 611.231 billion US dollars (TapTechNews note: currently about 4.44 trillion Chinese yuan), with an increase of about 4%.

WSTS simultaneously revised its analysis of the semiconductor market size in 2023 to 526.885 billion US dollars. This means that the size of the semiconductor market in 2024 will increase by 16.0% year-on-year.

WSTS said that this 4% upward adjustment in the forecast reflects the strong performance of the semiconductor industry in the past two quarters, especially in the computing terminal market, which has shown obvious recovery.

From the category point of view, the 16% year-on-year growth will be mainly driven by the storage semiconductor and logic semiconductor fields.

Among them, the memory chips have gradually emerged from the industrial trough in 2023, the product prices are continuously rising, and the operating rate of upstream original factories has also recovered to a certain extent, which will drive a huge year-on-year increase of 76.8% in this part of the market size.

In the case of logic semiconductors, due to the continuous demand for AI computing power chips, the relevant market size will also increase by 10.7% compared to last year.

At the same time, the market sizes of discrete devices, optoelectronics, sensors and analog semiconductors will show single-digit percentage contractions.

From a regional perspective, the semiconductor markets in Asia-Pacific (excluding Japan) and the Americas will both expand by more than 10% this year. The increase in Asia-Pacific (excluding Japan) will reach 17.5%, and that in the Americas will even reach 25.1%.

The European market will increase slightly by 0.5%. The Japanese market is the worst, and it will usher in a 1.1% decline.

Looking into 2025, the global semiconductor market will achieve milder but more comprehensive and stable growth: the scale is expected to reach 687.38 billion US dollars (currently about 4.99 trillion Chinese yuan), with a year-on-year increase of 12.5%, and the markets in all categories and regions will register expansion.

Among them, the increase in the storage field will still be more than 25%, and the increases in Asia-Pacific (excluding Japan) and the Americas will also continue to exceed 10%.