The Semiconductor Industry Association reported that its sales are expected to grow by 10 percent to $242.1 billion in 2010 and by more than 8 percent to $262.3 billion in 2011 in its annual industry forecast.
The forecast also projects global sales of $219.7 billion for 2009, a decline of 11.6 percent from the $248.6 billion reported last year.
"The new forecast is brighter than our earlier projections, reflecting an improving global economy," said SIA President George Scalise in a prepared statement. "Unit sales of key demand drivers—including PCs and cell phones, which together account for about 60 percent of semiconductor demand—have been stronger than previously predicted."
"We remain cautiously optimistic for the longer term. The current forecast is closely tied to projections of continuing improvement in the worldwide economy," he added.