India, Dec. 5 -- World Semiconductor Trade Statistics (WSTS) recently published its latest forecast for the semiconductor market, generated in November 2023.

Exceeding the spring projections with slightly better Q2 and Q3 results, WSTS has revised its forecast, anticipating a single-digit contraction in the global semiconductor market of 9.4% in 2023. However, this is anticipated to be followed by a robust recovery, with an estimated growth of 13.1% in 2024.

The updated market valuation for 2023 is now estimated at US$520 billion, marking a 9.4 percent decline from previous year.

Reflecting the stronger performance observed in the last two quarters, WSTS has revised its growth projections slightly upward, noting improvements in certain...