5G Expected to Drive 2020 Chip Market Rebound After 'Brutal' 2019, Says IHS Markit

5G will drive a 5.9 percent global semiconductor rebound next year, after what IHS Markit called a “brutal downturn” in 2019. Global semiconductor revenue is forecast to reach $422.8 billion this year, growing to $448 billion in 2020. Deployment of 5G will be the primary driver of the turnaround because of the renewed growth it’s expected to bring to the wireless industry and wider benefits including new business models, said the researcher Thursday. Historically, every semiconductor market downturn has ended “with the arrival of a technical innovation that spurred a major increase in demand,” said analyst Len Jelinek.