Gartner has revised down its forecast for worldwide semiconductor sales next year, saying that the market will probably only expand 4.5 per cent to $311bn (£193bn).
Peter Middleton, principal analyst at Gartner, cited the US "fiscal cliff" coupled with ongoing debt crises in Europe, as well as "regional tensions" and slower growth in emerging nations as the main reasons.
"[Meanwhile] inventory levels were already high at the start of the second half of 2012, and as PC demand rolled off, supply simply overshot demand," he added.
The previous forecast for 2013 was $330bn.
This year, growth in semiconductor revenue was also revised down to $298bn, three per cent less than 2011. Previously, 0.6 per cent growth was predicted for the third quarter of 2012 – but that target was missed.
Gartner found that DRAM prices also failed to rebound in 2012, and are now not expected to recover until the second half of 2013.
NAND and application-specific integrated circuit sales are expected to do well in 2013. PC production is tipped to remain weak, but ultramobile PC volumes will expand generously from a small base and media tablets will continue to sell well, according to Gartner.
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