SAN FRANCISCO—Market research firm IHS iSuppli Wednesday (April 25) lifted its forecast for the 2012 semiconductor market, citing strong ongoing consumer demand for wireless products like cell phones and media tablets.
IHS (El Segundo, Calif.) is now forecasting that total chip sales will reach an estimated $324.6 billion in 2012, up 4.3 percent from last year. The market research firm previously forecasted an increase of 3.3 percent for the chip market this year.
Gartner Inc., a rival market research firm,
increased its forecast for the 2012 chip market in March. Gartner now expects chip sales to increase 4 percent to $3.16 billion this year.
Barring an unforeseen economic slump in world markets or grave missteps by the chip industry, revenue should continue to climb during the next few years, hitting approximately $412.8 billion by 2016, according to the latest IHS forecast.
"Semiconductor revenue growth is expected to rise in 2012 compared to last year as consumers begin to believe that the global economic recovery is for real," said Len Jelinek, director and chief analyst of semiconductor manufacturing at IHS.
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