2023: An Initial Rough Ride with A Long-term Vision of Smooth Sailing
By Michel Villemain, Executive Chairman, Presto Engineering
After a bumpy 2020-22 cycle due to unforeseen issues such as COVID and geopolitical uncertainty, we are entering into a period of supply chain normalization in 2023. However, I anticipate that semiconductor pricing will remain volatile due to geopolitical (China/Russia) and macroeconomics (inflation/energy) reasons. As a result, and in common with most industry experts, I anticipate a semiconductor contraction in 2023, driven by consumer demand decrease (especially PCs) after the COVID bubble.
On the bright side, the markets that Presto Engineering serves are expected to be relatively immune from this downturn. These sectors, including medical, industrial, automotive, communications, will continue to invest in innovation and growth.
The medical industry is a very exciting area of growth for us, as COVID has been both a game changer and an eye opener, prompting the need for remote diagnostic and point-of-care-products. However, virtual point of care is not realistic if one needs to use a power outlet – so we are very focused on power efficiency, enabling battery-operated, portable/mobile devices. For example, in 2022, we developed our first IVD ASIC platform solution for infectious disease to materialize our customer’s vision of lab-in-the-palm smartphone.
