Industrial electronics market rebounds
The market for industrial semiconductors ended 2013 on a high, with overall revenue up convincingly from the previous year and reversing the 5% decline of 2012.
Market research firm IHS says industrial chip sales amounted to $33.7billion last year, up 11% from $30.4bn in 2012.
Growth is expected to continue in the next few years, with industrial related semiconductor revenue slated to reach $45bn by 2018.
"The market's persuasive bounce back is due to a strengthening global economy, coupled with higher purchasing confidence across all geographical regions," said Robbie Galoso, principal analyst for industrial electronics at IHS.
"While the field may not sound as sexy or attention grabbing as some of the more popular markets like wireless or consumer, there is no underestimating the power or sheer breadth of its applications."
Overall, Galoso says the turnaround for the year sets the stage for a robust 2014, with annual revenue forecast to grow 9% to $36.8bn.
