Semiconductor market revenues are forecast to total $439.3 billion in 2020, up 2.5% from $428.5 billion in 2019, says Omdia (the new name for analysts IHS and Informa)

Wireless IC revenues are expected to show 2% growth on the back of smartphone sales of 1.2 million units.

Automotive IC sales are expected to decline by 7.5% on a 12.4% drop in car sales this year.

The industrial semiconductor market is expected to expand by 2.5% in 2020 driven by the medical sector, where chip demand will rise by 5.9%.  The medical chip market will total $6 billion in 2020, up from $5.6 billion in 2019.

Medical IC revenues will continue to grow faster than the overall industrial semiconductor market in 2021 and beyond, driven by long-term trends such as the aging population, the increasing use of telehealth, the move to portable and wearable devices, and the rise of AI.t