IC Insights raises IC market forecast to 24 percent

The worldwide IC market will grow by 24 percent this year, predicts IC Insights. Previously, the market research firm forecasted 19 percent growth. The increase is driven by a 21 percent jump in unit shipments and 2 percent increase in average selling price.

A growth rate of 24 percent would be the third largest increase in the global IC market over the past 16 years, being surpassed only by the 33 percent surge displayed in 2010 and the 25 percent increase registered in 2017.

The World Semiconductor Trade Statistics recently released a slightly more conservative forecast for this year: 19,7 percent growth.