The global chip market is anticipated to grow at a slower pace in the coming years through 2022, data showed Sunday, signaling the end of the unprecedented boom period.
According to the data compiled by IC Insights, the global chip market is expected to grow 5.1 percent annually over the 2017-2022 period.
"Following the 22 percent increase in 2017, the total IC market is forecast to grow 8 percent in 2018 to US$393.9 billion and then continue on an upward trend to reach $466.8 billion in 2022, the final year of the forecast," the industry tracker said in its report.
Samsung Electronics Co. and SK hynix Inc. have been enjoying sharp increases in their earnings due to the global-wide boom of chip industries, but the latest report released by IC Insights suggests that their growth may slow down for the upcoming years.
"After an extraordinary 58 percent sales spike in 2017, the memory market is forecast to return to more 'normal' growth," it added.
"In 2018, the automotive—application-specific analog market is forecast to increase 15 percent to be the fastest-growing analog IC category," IC Insights said. "The growth of autonomous and electric vehicles and more electronic systems on board all new cars are expected to keep demand robust for automotive analog devices." (Yonhap)