Coronavirus pandemic further reduces worldwide GDP and IC market outlooks.
When 2020 started, global economic conditions pointed to single-digit percentage sales growth in the IC market after it fell by 15% in 2019, based on worldwide market data compiled by IC Insights for the 2020 edition of The McClean Report—A Complete Analysis and Forecast of the Integrated Circuit Industry (MR20). However, the world abruptly changed in 1Q20 with the rapid outbreak of the Covid-19 virus, which shut down nearly all countries and paralyzed global markets beginning in March 2020.
Figure 1 depicts the changes made to IC Insights’ 2020 total IC market forecasts as compared to the original MR20 forecast presented in January of this year.
