What you need to know The semiconductor market is expected to grow to $522 billion in 2021. Despite the global semiconductor shortage, revenues are expected to increase year-over-year by 12.5%. In some industries, total shipments of semiconductors are down, but revenues have increased. In news that likely won't surprise anyone, semiconductor revenue is expected to increase this year. The latest forecast from IDC states that the semiconductor market will reach $522 billion in 2021, which would mark a 12.5% year-over-year growth rate. IDC expects the consumer, computing, 5G, and automotive markets to drive the growth in the semiconductor market. The global semiconductor shortage has made headlines for over a year, but that shortage doesn't mean that manufacturers aren't selling semiconductors. If anything, the shortage of semiconductors is an indicator of growing demand, since all manufacturers are racing to make as many semiconductors as possible.