According to Purchasing, the Semiconductor Industry Association's (SIAs) annual forecast foresees revenue reaching $242.1 billion (£144 billion) next year.
This is despite the semiconductor market ending 2009 on a decline of 11.6 per cent, with sales equating to $219.7 billion.
Higher than previous predictions made by the SIA, the forecast also expects industry revenue to top $262.3 billion in 2011, which is a growth of 8.2 per cent.
George Scalise, president of the SIA, said that these improvements will occur as a result of the recovering economy and better-than-expected mobile phone and computer sales, the news provider reports.
Meanwhile, Research and Markets recently revealed that the Chinese passive components industry is one of the fastest growing production hubs in the world.
The company expects the industry to grow by 20 per cent over the next year, which means it will reach 850 billion units.
