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Global Semiconductor Revenue Growth Falls to 7% in 2022, says Gartner — Gartner forecasts that worldwide semiconductor revenue will have an anticlimactic growth of 7.4% in 2022, a significant dip compared to the previous year’s growth of 26.3%.

In the previous quarter, Gartner forecasted a 13.6% growth in 2022 for the semiconductor market revenue, a large difference from its current prediction — which has been reduced by $36.7 million for a total of $639.2 billion in revenue for 2022.

“The global semiconductor market is entering a period of weakness, which will persist through 2023 when semiconductor revenue is projected to decline 2.5%,” said Richard Gordon, practice VP at Gartner. “We are already seeing weakness in semiconductor end markets, especially those exposed to consumer spending.”

Factors contributing to this hit include rising inflation, taxes, and interest rates, which have slowed consumer disposable income, thus spending on tech products such as PCs and smartphones — normally the goldmine for chip production.

Semiconductor revenue from PCs alone will decline 5.4%, according to the analyst firm. PC shipments itself are expected to fall by 13.1%, a stark difference in its recorded growth in 2020 and 2021. Smartphones will also face the economy’s consequences and are on pace to slow to 3.1% growth this year, compared to 24.5% growth in 2021.

Gordon admitted a decline in semiconductor revenue had been seen many times before, and the market is resilient. “While the consumer space will slow down, semiconductor revenue from the data center market will remain resilient for longer (20% growth in 2022) due to continued cloud infrastructure investment.”

In terms of 2023, Gartner predicts that the worldwide semiconductor revenue will produce $623.1 billion.

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