Worldwide semiconductor revenue grew 5.4% on-year to reach $442 billion in 2020: IDC

NEW DELHI: Despite the impact of the COVID-19 pandemic, the worldwide semiconductor revenue grew to $442 billion in 2020, up 5.4% on-year, fueled by the growth in cloud computing and an increase in remote working and learning, according to the Semiconductor Applications Forecaster (SAF) from International Data Corporation ( IDC).

IDC forecasts the semiconductor market will reach $476 billion in 2021, growing 7.7% on-year on account of vaccination programs, and as economies begin to open and recover gradually.

The market for semiconductors in computing systems, such as PCs and servers, outpaced the overall semiconductor market, growing 10.9% year over year to $152 billion in 2020.