IDC warns of significant shrinkage to semiconductor market with Covid-19 pandemic

IDC has offered a gloomy analysis of the semiconductor market amid the Covid-19 pandemic, suggesting significant shrinkage compared with the earlier expected minor overall growth.
In its latest report, titled Impact of COVID-19 on the Worldwide Semiconductor Market Forecast, IDC notes that despite the disruption, to human life as well as the international technology supply chain, the report states that there is still a one-in-five chance that the market would bounce back from the contagion in 2020. The most probable results for this event would be a year-over-year revenue loss of 6% for the worldwide semiconductor market in 2020, says IDC, giving the scenario a probability of 54%. The entire semiconductor segment is likely to see a loss of $25.8b and the effect will be felt throughout the year. According to the market researcher, the demand for systems and availability of components would be at their lowest for some time, but will gradually start recovering once the outbreak is in control.