| Chip sales are expected to reach $680 billion in 2022, growing by 11% year-over-year (YoY), according to data from IC Insights. While the increase in sales is substantial, growth will be slower compared to 2021 when chips were high in demand due to global shortages.
"Chip sales will continue to grow, but not in the record numbers we saw in 2021, when chip sales were up by 25% YoY, due to increased production as well as various global initiatives to spur production," said Gadjo Sevilla, analyst at Insider Intelligence. "The chip shortage is expected to continue into 2023, but should be less severe moving forward."
"Overall these sales indicate a continued demand for chips as various sectors intensify their need, he said." | |
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