The global market for semiconductors used in industrial electronics applications rebounded in 2013 and is poised for even more growth this year, according to a new report from market researcher IHS Technology.
The industrial electronics chip market finished 2013 with worldwide sales of $32.8 billion, according to IHS—up 9 percent following a 5 percent decline just a year earlier. The industrial electronics chip market is forecast for even more growth this year, with 2014 revenue projected to climb 11 percent to $36.4 billion.
The next four years will also see continued expansion. By 2018, industry revenue will amount to roughly $49 billion, IHS forecasts.
“A recovery in the industrial market on a worldwide scale during the second half of 2013 made industrial electronics the second-highest growth sector in the overall semiconductor business for the year, just behind wireless,” said Robbie Galoso, principal analyst for industrial electronics at IHS. “Moreover, several chip companies and original equipment manufacturers across the industrial application market reported improved revenue and orders in the fourth quarter, which helped to strengthen year-end results.”
In other industry news:
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Distributor RFMW announced a new distribution agreement with Aviacomm, maker of wideband RF CMOS ICs. The agreement covers North America, Europe, and Southeast Asia.
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Mouser Electronics received the 2013 NorthFace ScoreBoard Award from Omega Management Group Corp. in recognition of its excellence in global customer service and support during 2013. This is the second consecutive year Mouser has received the award.
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TTI, Inc. received a Honeywell Sensing and Control Distributor Performance Award for 2013. For the second consecutive year, TTI has achieved Gold status, the highest award level to be presented to a distributor partner.
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Master Electronics received a bronze Distributor of the Year Award for the Americas Region from Honeywell Sensing and Control (S&C). The award recognizes the distributor for its achievements in sales growth, product innovation, and new product sales in 2013. This marks Master Electronics’ third Distributor of the Year award from Honeywell in the past four years.
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