Chip sales to top one trillion by 2016
Total semiconductor unit shipments are forecast to break the one trillion mark for the first time in 2016.
IC Insights says shipments will reach 1,005.8billion in 2016, up from just 32.6bn in 1978.
This represents an average annual growth rate of 9.4% over the 38 year period.
Moreover, IC Insights says it demonstrates "just how dependent the world is on semiconductors".
From 2008 to 2013, the average annual growth rate of semiconductor units cooled to just 5% due to global economic doldrums.
However, stronger 8% annual growth is forecast from 2013 to 2018 as the global economy regains momentum.
IC Insights forecasts semiconductor unit growth of 8% in 2014, 11% in 2015 and 12% in 2016.