At the beginning of 2023, the global semiconductor market size amounted to $41.33 billion. compared to $50.74 billion in 2022. Information about an 18.5% drop in global chip demand is released in a report by the analytical company Semiconductor Industry Association (SIA).
As for the detailed consideration by region, only the European market achieved an increase in chip sales by 0.6%. At the same time, Japan, Asia-Pacific, North and South America and China recorded a decline. China is currently leading in a 31.6% decline in market volume in January.
SIA President and CEO John Newfinger noted that after record high sales in early 2022, there was a significant “cooling” in the global semiconductor market in the second half of the year and the first month of 2023.
However, the recorded decline is cyclical. Newbetter emphasizes the long-term stability and profitability of the semiconductor market because of the importance of chips in advanced technologies.
Earlier it became known that while Western countries impose sanctions against the aggressor-Russia, Chinese exports to the Russian Federation of microarrays, electronic components and raw materials used for military purposes have increased significantly.