A new report on the global semiconductor and electronic components market has forecast the sector to reach $628 million (£385.4 million) by 2015.

Carried out by IBISWorld, the Global Semiconductor and Electronic Components Manufacturing report highlighted the growth in components such as capacitors, resistors, LEDs, inductors and filters.

It revealed a compound annual growth rate in the sector of one per cent between 2006 and 2010 and revealed that sales of integrated semiconductors made up 53.4% of the market during this period.

Revenues totalled $430 million in 2010, but the market is set to grow by almost a third over the next four years, the report states.

Meanwhile, a report compiled by MarketResearch.com recently showed that the global market for automotive semiconductors is set to expand over the coming years.

"It is no surprise that one of the major drivers of the automotive industry over the years has been the rise of integrated electronics," an unnamed industry analyst stated.