An industry group has released its forecast for the global semiconductor market for next year and 2024, and the forecast from six months ago has been revised upward due to a pick-up in flash memory sales that have deteriorated globally. It is expected to increase by 4%, a reversal from a decline for the first time in four years.

WSTS, an industry group made up of global semiconductor manufacturers, announced its forecast for the global semiconductor market on the 28th.

The global semiconductor market is expected to decline by 9.4% for the first time in four years, but the market size next year is expected to be more than $4.5883 billion in value, an increase of 13.1%.

This is an upward revision of 11.8 percentage points from the forecast of an increase of 1.3% six months ago.

The reason for this is that flash memory, which has deteriorated globally, is expected to pick up, and memory products are expected to increase significantly by 44.8%, and demand for related semiconductor products is expected to expand rapidly due to the spread of generative AI.

According to the WSTS Japan Council, "Demand for semiconductors has already entered a recovery phase from the second half of this year, and market growth is expected next year."