Worldwide IC Market Forecast to Top $500 Billion in 2021

Industry firing on all cylinders with robust and widespread demand for ICs.

June 29, 2021 -- IC Insights will soon release its Mid-Year Update to The McClean Report that includes its most current forecast for the global IC market from 2021 through 2025. In a very rare event, 32 of the 33 major IC market categories defined by WSTS are forecast to enjoy an increase in sales this year, with 29 of the product categories expected to see significant double-digit gains. Strong demand across the entire IC market this year is projected to lift sales for the total IC market 24% and break through the $500 billion plateau for the first time in history (Figure 1).

Figure 1

At the mid-point of 2021, IC production was returning to normal levels, but a surge in chip demand caused by the Covid-19 pandemic meant that ICs used in smartphones, computers, TVs, automobiles, and other end-use applications remained in short supply—an industry condition that could last well into 2022.

The IC market is forecast to see continued growth next year and again in 2023 when worldwide IC revenues are projected to exceed $600 billion for the first time (Figure 2). Throughout the forecast period, momentum is expected to surge for 5G connectivity, artificial intelligence, deep learning, virtual reality, and other emerging applications in mobile, data center and cloud-computer servers, automotive, and industrial markets, resulting in a robust IC market CAGR of 10.7% from 2020-2025.

Figure 2

Report Details: The 2021 McClean Report

The 2021 edition of The McClean Report—A Complete Analysis and Forecast of the Integrated Circuit Industry was released in January 2021. A subscription to The McClean Report includes free monthly updates from March through November (including a 180+ page Mid-Year Update), and free access to subscriber-only pre-recorded webcasts through November. An individual user license to the 2021 edition of The McClean Report is available for $5,390 and a multi-user worldwide corporate license is available for $8,590. The Internet access password and the information accessible to download will be available through November 2021.

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