- The global semiconductor market will bounce back to 5.9 per cent in 2020 reaching $448 billion
- By 2035, 5G technology will enable between $1.3 trillion and $1.9 trillion worth of economic output in the US alone
According to a new report published by IHS Markit, the trending 5G market would help the semiconductor industry to bounce back in 2020.
As per the report, the global semiconductor market will bounce back to 5.9 per cent in 2020 reaching $448 billion, up from $422.8 billion in 2019. The main factor driving this recovery will be 5G, not just because of the renewed growth to the wireless industry, but also the impact the technology will have on global businesses and economies.
Pool of opportunities
The report highlighted that by 2035, 5G technology will enable between $1.3 trillion and $1.9 trillion worth of economic output in the US alone. It also said that 5G will provide new opportunities for those creating new content the technology will provide such as changes in fixed wireless access, healthcare, and robotics.
“Throughout the history of the semiconductor industry, every market downturn has ended with the arrival of a technical innovation that spurred a major increase in demand,” said Len Jelinek, senior director, semiconductor manufacturing for IHS Markit.
Jelinek added “In the past, these innovations have had momentous impacts, such as the advent of the world wide web or the introduction of the iPhone. Now another historic innovation is set will take its place among these advances: 5G.