Len Jelinek, director and chief analyst for semiconductor manufacturing at iSuppli, highlighted the potential impact of several innovative new products being released early on in the year, which could boost transactions in the sector.
He stated that the low inventory levels held by many companies as a result of the difficult trading environment in 2008 and 2009 could also help ensure the outlook for the market is "optimistic".
A report by iSuppli suggested that global spending on semiconductor manufacturing equipment could see a year-on-year increase of 46.8 per cent in 2010, following three years of decline.
Mr Jelinek added: "After suffering through one of the most significant declines in manufacturing in the history of the chip-making business in Q1 of 2009, semiconductor makers were rewarded with three subsequent quarters of improved factory utilisation."
Last week, Gartner indicated that major equipment manufacturers account for one-third of global semiconductor demand.
