Despite the impact of COVID-19 on the global economy, the semiconductor market performed better than expected in 2020, fueled by the growth in cloud computing and demand for devices to support remote work and learning. Worldwide semiconductor revenue grew to $442 billion in 2020, an increase of 5.4% compared to 2019, according to the (SAF) from International Data Corporation (). The DRAM and NAND markets also recovered after a poor 2019, growing 4% and 32.9%, respectively. IDC forecasts the semiconductor market will reach $476 billion in 2021, a 7.7% year-over-year growth rate as the various COVID-19 vaccines are disseminated and economies begin to open and gradually recover.
The emergence of COVID-19 and subsequent measures taken to manage infection rates, including stay-at-home mandates, remote work, remote education, travel restrictions, and manufacturing shutdowns, created significant business volatility that impacted industries unevenly. “The nature of the recovery will depen
Posted February 2nd, 2021 for IDC
SAN MATEO, Calif., February 2, 2021 – Despite the impact of COVID-19 on the global economy, the semiconductor market performed better than expected in 2020, fueled by the growth in cloud computing and demand for devices to support remote work and learning. Worldwide semiconductor revenue grew to $442 billion in 2020, an increase of 5.4% compared to 2019, according to the Semiconductor Applications Forecaster (SAF) from International Data Corporation ( IDC ). The DRAM and NAND markets also recovered after a poor 2019, growing 4% and 32.9%, respectively. IDC forecasts the semiconductor market will reach $476 billion in 2021, a 7.7% year-over-year growth rate as the various COVID-19 vaccines are disseminated and economies begin to open and gradually recover.
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