Third Q22 semiconductor revenue was $147B, down 7% from the previous quarter of $158B. #pressrelease
November 22, 2022
LONDON, – The semiconductor market has had an exceptional run of sequential revenue growth during the COVID-pandemic period that began in early 2020 according to Omdia's Semiconductor Competitive Landscape Tool (CLT). A record eight-straight quarters of revenue growth occurred during this time. Now the market has begun to shrink for the last two quarters. 3Q22 semiconductor revenue was $147B, down 7% from the previous quarter of $158B.
Following a record run, the semiconductor market has cooled down and consumer confidence has waned resulting in a historic drop for a third quarter. Semiconductor sales increased in anticipation of consumer demand increasing in the second half of the year. From 2002 through 2021, the long-term average quarterly growth was 8%.
The three memory-focused companies (Samsung Electronics, SK Hynix, and Micron Technology) all dropped one position. While the major memory suppliers accounted for a drop of over $10bn in semiconductor revenue for 3Q22, they weren't the only companies to struggle. AMD revenues declined as they experienced a slow-down in demand for PCs and inventory reductions, the same market conditions that Intel felt the previous quarter.
Read the full press release here.
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