Pharmaceutical Industry 2023 Outlook

Strong headwinds hamper outlook

The electronics sector's bellwether, global semiconductor sales, have been in negative territory since Q2 2022 and reached down further by more than 20% yoy in the first months of 2023. The magnitude of such unprecedented decline is a product of unprecedented growth registered in the 2019-2022 industry cycle, where all growth engines were firing on full blast: volumes driven by booming IT hardware sales, prices soared on the back of supply shortages and product mix improved by the launch of new generation chips using the 5nm manufacturing node. 

However, the same three drivers are now muted with consumer electronics deep in the red, rising inventories sending prices down and next generation chips only in their ramp-up phase. After growing by a record +24% in 2021 and subsequently slowing to +8% in 2022, global semiconductor sales are projected to fall by as much as -15% in 2023 down to US$495 billion.

Our latest report dissects into the characteristics of the sector, strengths and weaknesses, sector risks and regional outlook and more. Get your copy today!

key findings in electronics industry outlook 2023


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