Semiconductor revenues projected to drop 3.6% next year

Revenues for the global semiconductor market is forecast to total $596 billion in 2023, down from the previous forecast of $623 billion according to numbers from Gartner.
According to the latest forecasts from Gartner, though this year the global semiconductor market is apparently set to grow 4% and total $618 billion this year, in 2023 revenue is projected to decline 3.6% – which the analysts attributes to oversupply due to the ‘worsening economic situation’.
Gartner surmises