LONDON Ė The IC market will grow 6 percent in 2013 on the back of an improving global gross domestic product (GDP) measure of economic activity, according to market analysis firm IC Insights.
Over the longer term IC Insights says expects the chip market to achieve a compound annual growth rate (CAGR) of 7.4 percent over the period 2011 to 2016, more than double the 3.3 percent CAGR for the IC Industry in the previous five-year period, 2006 to 2011.
IC Insights said global GDP growth is forecast to be 3.2 percent in 2013 and that there are signs that the Chinese and U.S. economies are improving, including stronger housing demand and hiring in the U.S., and accelerating factory output and retail sales in China.
In terms of major electronic equipment sales the communications sector is set to show the strongest growth at 6 percent in 2012. Computer sales are estimated to grow only 1 percent in 2012, down from the 11 percent growth registered in 2010.
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Worldwide electronic system production by type ($ billions). Source: IC Insights
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