KUALA LUMPUR (Apr 23): The global semiconductor market is forecast to grow 4.9% this year from the previously estimated 3.4%, according to the World Semiconductor Trade Statistics (WSTS).

However, the worldwide estimate for 2016 growth has not been changed and remains at 3.1%.

In a revised estimate released this week, WSTS said the market for semiconductors in the Americas region will grow by 15% in 2015, from 5.3% projected in December last year.

It said this, together with strength in the market in the Asia-Pacific region, led the WSTS to increase its annual growth estimate worldwide for 2015.

WSTS’ forecasts for the other main geographic regions have also been altered with a more pessimistic view taken for Europe and Japan and a higher growth figure plugged in for the Asia Pacific region.

According to the new projections, Europe has been marked down to a contraction in dollar terms of 2% compared with growth of 1.5%.

It said Japan's chip market was expected to contract by 3.7% compared with the 0.3% figure given in December 2014.

Meanwhile, it said the Asia-Pacific market was expected to grow by 4.2% from the 3.8% estimated earlier.

WSTS said the automotive and communications sector were expected to grow by 4.2% from the 3.8% estimated earlier.