Global Semiconductor annual sales projected to increase 19.7% in 2021, 8.8% in 2022

(June 10) Semiconductor stocks rose in morning trading.

Related: Semiconductor Watchlist: Jim Cramer Says to Own Nvidia, AMD and Broadcom

According to World Semiconductor Trade Statistics estimates, the global semiconductor market will rise from 6.8% in 2020 to 19.7% thisyear to ~$527B.

The most significant growth contributors are Memory with 31.7%, followed by Sensors with 22.4% and, Analog with 21.7%. All other major product categories are also expected to show double-digit growth rates, except Optoelectronics with 9.8% and MOS Micro with 8.1%.

In 2021, Asia Pacific (incl. China) is forecasted to show the most robust growth rate with 23.5%, followed by Europe with 21.1%, Japan 12.7%, and the Americas with 11.1%.

For 2022, the global semiconductor market is projected to grow by 8.8% to $573B, driven by double-digit growth of the Memory category. All regions are expected again to show favorable growth rates.

Related stocks YTD returns: NXP Semiconductor(NASDAQ:NXPI) +24.7%, On Semiconducter(NASDAQ:ON) +14.85%, Intel(NASDAQ:INTC) +14.4%,  and, TSMC(NYSE:TSM) +6.3%.

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