According to the research firm, revenue from the industry is likely to total $226 billion (£134 billion) in 2009, which represents an 11.4 per cent decline from the $255 billion recorded last year.
However, this is better than third-quarter forecasts from the company and it is thought that sales will pick up again in 2010, reaching the figure seen in 2008.
Gartner continues that computers are the largest application driving the return of semiconductors as there has been a strong recovery in this market.
Bryan Lewis, research vide-president at the organisation, said: "The most significant changes for the semiconductor industry came from application-specific standard products, memory and compute microprocessors, as all three products benefited from a strengthening PC market."
In other news from Gartner, it is thought that global IT sales will recover next year, with spending expected to reach $3.3 trillion.
