IDC Upgrades Semiconductor Outlook, Predicts Sustained Growth

International Data Corporation (IDC) has revised its Semiconductor Market Outlook, anticipating a return to sustained growth. The 2023 revenue projection is now $526.5 billion, showing improvement from the earlier forecast. IDC cites improved visibility, especially in PCs and smartphones, as the inventory correction subsides. Forecasts predict a 20.2% YoY growth for 2024, reaching $633 billion, with AI integration and improved memory ASPs contributing to the positive trajectory.