LONDON – World industrial/medical semiconductor revenues are projected to grow 9% in 2010 to $22.5 billion, and to grow almost 10% in 2011 to $24.6 billion, says Semicast Research.

The firm also forecasts revenues of semiconductors in the sector to rise to $35.7 billion in 2015, a CAGR of almost 10% from 2009 to 2015.

In the downturn of 2009, semiconductor revenues in the sector dipped less than 7% from 2008, but still finished the year at a level in excess of the 2007 total.

Compared with a decline of 11% for the overall semiconductor market in 2009 (with automotive down 17%), the industrial/medical market has performed well compared with other sectors, says Semicast.

Renesas Electronics was the leading supplier of semiconductors to the industrial/medical sector in 2009, ahead of Infineon Technologies and STMicroelectronics; Analog Devices and Texas Instruments completed the top five.