The global semiconductor market is outpacing analysts estimates, with an updated forecast expecting a 25 per cent surge in 2021.

This is according to the World Semiconductor Trade Statistics, who previously reported an increase of 19.7 per cent.

Despite ongoing shortage, the industry actually grew 6.8 per cent in 2020, with the market expected to grow this year to $AUD763 billion.

Memory products will enjoy the largest year-on-year increases this year, with 37.1 per cent revenue growth, followed by analogue (29.1 per cent) and logic (26.2 per cent).

Regionwise, Asia Pacific is expected to grow 27.2 per cent, Europe will leap 26.4 per cent, The Americas 21.5 per cent, and Japan 17.7 per cent.