The technology research firm predicted that the global chip market would grow 8.3 percent with a total revenue of US$168 billion in 2003, compared with a total revenue of US$155 billion in 2002.
Digital mobile handsets, flat-panel displays and digital video consumer products are expected to have strong growth in 2003, Gartner predicted. The mobile phone handset application continues to prop up the semiconductor industry, driving demand for memory, image sensors and other components.
Gartner said drivers for liquid crystal displays (LCDs) and application-specific devices for consumer electronics are showing strong potential for growth.
Other industry watchers like the Semiconductor Industry Association (SIA) and In-Stat/MDR also anticipate growth this year. The SIA forecasts a 20 percent increase in chip sales for 2003. In-Stat/MDR projects global chip revenue to generate US$164.2 billion this year.
