China's IC market tops 140 bln dollars in 2020: report

A staff member of Huaian Aucksun Optoelectronics Technology Ltd works at a chip production line on June 16. China has intensified efforts to develop chips at home so as to reduce reliance on the foreign semiconductor industry. (ZHAO QIRUI/FOR CHINA DAILY)

China's integrated circuit (IC) market, the world's largest, saw robust growth in 2020, with the market size reaching $143.4 billion last year, according to an industrial report.

The market size was 9 percent bigger compared with the 131.3 billion dollars recorded in 2019, said IC Insights, a leading semiconductor market research company.

The country has exported 60 percent of its IC products which were integrated into an electronic system, said the report.

Sales of logic ICs took up the largest part of the IC market with a share of 26 percent, while microprocessors constituted the second-largest IC product segment boosted by strong sales of smartphones worldwide along with an uptick in sales of various computing systems, said the company.

China's logic market is expected to remain the largest IC product segment through 2025 in the country, with the compound annual growth rate standing at 10.5 percent through the forecast period, said the company.