The worldwide market for industrial electronics semiconductors reportedly ended 2013 on a strong upbeat note, with overall revenue up convincingly from the previous year and reversing the disappointing decline of 2012, according to a new report from IHS Technology. Global industrial electronics chip revenue for 2013 was $33.7 billion, an 11% rise from $30.4 billion in 2012. After final figures are confirmed for the fourth quarter, the double-digit increase expected in 2013 will show that the market recovered from the 5% loss of 2012. Growth will continue in the next few years, and industrial-related semiconductor revenue will reach some $45.0 billion by 2018.

“The market’s persuasive bounce back is due to a strengthening global economy, coupled with higher purchasing confidence across all geographical regions,” said Robbie Galoso, principal analyst, Industrial Electronics. “While the field may not sound as sexy or attention-grabbing as some of the more popular markets around, like wireless or consumer, there is no underestimating the power or sheer breadth of its applications, ranging from home automation to the medical field, to energy, to aeronautics and military purposes, and much more.”

In the Americas, led by the U.S., an upturn in the housing market fueled the expansion of industrial electronics usage in the building and home control segment. In China, broad-based revenue increases occurred in various segments, including medical electronics and factory automation. Thirteen European countries figured among the top 20 global industrial electronics markets, including Germany, France, Switzerland, Sweden, Italy and Finland.

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