Global semiconductor revenue grew only around 1 percent on-year last year, a recent report showed, with the memory chip sector suffering the most.

According to tech research firm Gartner, worldwide chip revenue is estimated to have risen 1.1 percent to $601.7 billion in 2022, a significant drop from a 26.3 percent annual growth seen the previous year.

While 2022 got off to a relatively good start due to lingering chip shortages, Gartner said “by the second half of 2022, the global economy began to slow under the strain of high inflation, rising interest rates, higher energy costs and continued COVID-19 lockdowns in China, which impacted many global supply chains.”

“Consumers also began to reduce spending, with PC and smartphone demand suffering, and then enterprises starting to reduce spending in anticipation of a global recession, all of which impacted overall semiconductor growth,” it said.

Samsung Electronics topped the chipmaker list by revenue, with a market share of 10.9 percent, followed by Intel, SK hynix and Qualcomm. (Yonhap)