Smartphone semiconductor revenues are expected to increase 15.2% in 2022, with production of 5G smartphone units expected to increase 45.3% in 2022, reaching 808 million units and accounting for 55% of all smartphones products, says the same source.
The rise in the average selling price of semiconductors due to the shortage of chips continues to be a key driver for the growth of the global semiconductor market in 2022, according to the report.
“Furthermore, global semiconductor component supply constraints are expected to gradually ease through the end of 2022 and prices will stabilize as the inventory situation improves,” said Alan Priestley, vice president of research at Gartner.
The automotive sector, the report notes, would continue to face supply constraints particularly in microcontrollers (MCUs), power management integrated circuits (PMICs) and voltage regulators until 2023.