The growth is not big – single digit – but it is considerably more optimistic than SEMI’s forecast for the 2019 fab equipment industry which switched, this week, from a positive 7% to a negative 8%.

While acknowledging that China will play a ‘critical role’in forecasting the industry, IC Insights is projecting that the semi market will be wortth $560 billion in 2023 up from this year’s $432 billion.

The company’s 22nd edition of the McLean Report explains ‘why IC market growth is forecast to continue displaying an excellent correlation with worldwide GDP.’