The semiconductor market has had an exceptional run of sequential revenue growth during the COVID-pandemic period that began in early 2020 according to Omdia's Semiconductor Competitive Landscape Tool (CLT) ( https://omdia.tech.informa.com/products/semiconductor-competitive-landscape-clt-spotlight-service ). A record eight-straight quarters of revenue growth occurred during this time. Now the market has begun to shrink for the last two quarters. 3Q22 semiconductor revenue was $147B, down 7% from the previous quarter of $158B. Photo - https://mma.prnewswire.com/media/1950658/Revenue_quarterly_percentage_change_Q2_to_Q3_Omdia.jpg Photo - https://mma.prnewswire.com/media/1950659/Total_semiconductor_QoQ_growth_Omdia.jpg Photo - https://mma.prnewswire.com/media/1950660/2Q22_Rank_of_Top_10_Semiconductor_Companies_Omdia.jpg "The decline in the market has not been uniform," said Senior Research Analyst, Cliff Leimbach ( https://omdia.tech.informa.com/authors/clifford-leimbach ). "Different parts of the market are driving the weakness at different times. 2Q22's decline was driven by a weakened PC market, with Intel declining 17%. The most recent decline is due to weakness in the memory market. Memory revenue is down 27% quarter on quarter (QoQ) as data center, PC, and mobile demand declined in combination with inventory adjustments from customers." Following a record run, the semiconductor market has cooled down and consumer confidence has waned resulting in a historic drop for a third quarter. Semiconductor sales increased in anticipation of consumer demand increasing in the second half of the year. From 2002 through 2021, the long-term average quarterly growth was 8%. The three memory-focused companies (Samsung Electronics, SK Hynix, and Micron Technology) all dropped one position. While the major memory suppliers accounted for a drop of over $10bn in semiconductor revenue for 3Q22, they weren't the only companies to struggle. AMD revenues declined as they experienced a slow-down in demand for PCs and inventory reductions, the same market conditions that Intel felt the previous quarter. ABOUT OMDIA Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions. Fasiha Khan / T: +44 7503 666806 / E: Fasiha.khan@informa.com / W: www.omdia.com SOURCE Omdia