FRANKFURT – In 2017, the global microelectronics market grew 21% to $412 billion, the largest growth since the turn of the millennium, according to ZVEI.

Memory chips drove sales, but even without this segment, world market growth was almost 10%, says the firm.

The European market accounted for $38 billion, leading in semiconductors for automotive and industrial electronics. Continued growth in these segments is expected during the next five years. Driver assistance systems and electromobility are driving automotive electronics, while Industry 4.0 and IoT are the focus of industrial electronics.

Asia's 2017 world market share was up 61%. China alone accounted for $131 billion. For the first time, China was the largest single market in the world. The Chinese market is expected to rise to $165 billion by 2022.