Global chip revenue reaches $602 billion last year, claims report

Global semiconductor revenue increased by 1.1 percent in 2022 to total $601.7 billion, up from $595 billion in 2021, a new report said.

According to Gartner, the combined revenue of the top 25 semiconductor vendors increased by 2.8 percent in 2022 and accounted for 77.5 percent of the market.

“2022 began with many semiconductor devices in shortage resulting in extended lead times and increasing pricing which led to reduced electronic equipment production for many end markets. As a result, OEMs started hedging themselves from shortages by stockpiling chip inventory,” said Andrew Norwood, VP Analyst at Gartner.