The figures have been released by World Semiconductor Trade Statistics (WSTS), which sees sales decreasing by 2.4% in 2016, but a return to growth in 2017 and 2018.
While there will be growth in demand for optoelectronics, sensors and analogue components in 2016, these gains will be more than offset by a softening in demand for memory (-10.2%) and logic (-2.5%).
Sales are expected to decline across all regions in 2016, but the biggest drop will be seen in the Americas.
For 2017 and 2018, WSTS sees demand for all major product categories increasing, as well as demand in all regions. Expecting growth of around 2% a year in the next two years, WSTS says sales will reach $341bn in 2018, with the Americas and Asia Pacific leading the way.
In Europe, sales are expected to reach $34.23bn in 2016, a 0.1% decrease over 2015. However, sales are forecast to grow by 1.6% per year in 2017 and 2018, reaching $34.78bn and $35.34bn respectively.
