Global semiconductor revenue projected by Gartner to grow 13.6% in 2022

According to Gartner, worldwide semiconductor revenue will grow 13.6% to total $676 billion in 2022, as supply constraints gradually ease

Overall, Gartner‘s outlook for global semiconductor revenue has been increased from the previous quarter’s forecast by $37 billion.

Automotive applications will continue to experience component supply constraints — particularly in microcontrollers (MCUs), power management integrated circuits (PMICs) and voltage regulators — extending into 2023.

Meanwhile, slowing growth in PCs, smartphones and server end markets is expected to gradually slow down the growth of semiconductor revenue as semiconductor supply and demand gradually comes into balance during 2022.

The memory market will remain the largest semiconductor device market through the forecast period, projected to account for 31.4% of the overall semiconductor market in 2022.

Looking forward to 2023, the market as a whole is predicted to grow 3.6% to total $700.5 billion.

“The semiconductor average selling price (ASP) hike from the chip shortage continues to be a key driver for growth in the global semiconductor market in 2022, but overall semiconductor component supply constraints are expected to gradually ease through 2022 and prices will stabilise with the improving inventory situation,” said Alan Priestley, research vice-president at Gartner.

5G migration

Semiconductor revenue for smartphones is forecast by Gartner to increase 15.2% in 2022, with 5G smartphone unit production expected to grow by 45.3%, reaching 808 million units and representing 55% of all smartphones produced.

Surging migration from 4G to 5G from major smartphone chipset vendors has temporarily led to a shortage in 4G system-on-chip integrated baseband ICs which began in the second half of 2021.

Chip shortage concerns to continue

The chip shortage will continue to be a concern for the supply chain of electronics equipment in 2022, having varying effects in major electronic equipment markets depending on different semiconductor device types.

Most shortages eased in PCs and smartphones as production moved into the off season, combined with increased supply into the market, but some semiconductor device types will continue to be in shortage in the automotive supply chain through late 2022.

“Although unit production of automotive vehicles will grow below expectation at 12.5% in 2022, semiconductor device ASPs are expected to remain high due to continued tight supply driving the automotive semiconductor market to double-digit growth (19%) in 2022,” said Priestley.

“Automotive HPC, EV/HEV and advanced driver assistance systems will lead the growth in automotive electronics sectors through the forecast period.”


For the 5G ecosystem to fly, we need accessibility and industry collaboration — Panch Chandrasekaran, director of segment marketing, infrastructure line of business at Arm, discusses the need to rethink wireless infrastructure to facilitate successful 5G operations.

Nutritional labels for hardware? Businesses look to new ways to measure device performance — Samuele Gantner, chief product officer at Nexthink, discusses how new labels for hardware is helping businesses measure device performance.

Avatar photo

Aaron Hurst

Aaron Hurst is Information Age's senior reporter, providing news and features around the hottest trends across the tech industry.

Related Topics