Published: 03 January 2024
Capex will decrease by 10.2% in 2023 to reach $163.5 billion, as both logic and memory players stay conservative in spending. As consumer demand picks up slowly and inventory is adjusted, capex will witness flat growth at 0.2% in 2024 before gaining momentum in 2025 to post growth of 6.6%.
Owing to the declining demand for PCs, smartphones, consumer electronics and general purpose servers, semiconductor revenue will decline by 11.1% to reach $533.0 billion in 2023, before growing in 2024 by 18.2%.
Despite a low fab utilization rate of 69%, higher average wafer prices will lead foundry revenue to decline by only 10.8% in 2023 and reach $116.4 billion, before growing by 12.2% in 2024.
DRAM revenue will decline by 38.5% in 2023 due to weak end equipment demand and high inventory levels to reach $48.4 billion, before supply-driven shortages will push revenue up by 82.8% in 2024.
With key NAND
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