Taiwan Semiconductor Manufacturing, the world's largest contract microchip maker, said it expects the global integrated circuit industry to sustain steady growth over the next ten years, an AFP report said.
The AFP report quoted a company spokesperson as saying that the "sector has reached a consensus that the industry will continue to grow steadily, at roughly 8% between 2005 and 2015.'
The report said the global semiconductor industry went through a frenzied period averaging 21% growth in 1985 to 1995, followed by an adjustment period of about 5% in 1995 to 2005.
'The anticipated stable growth over the next ten years will be largely achieved through new high-tech applications,' the spokesman said.
According to the executive, the semiconductor industry is taking advantage of a rapidly growing consumer electronics business, featuring cheap and user friendly mobile communications devices, the AFP report said.
The booming market in the developing world has also served as a driving force for growth, the spokesman said.