Gartner has raised its global semiconductor market forecast for 2012, according to the research firm. Global semiconductor revenues in 2012 now is expected to rise by 4% compared to 2011, which is up from the previous estimate of 2.2% issued in December.

"The semiconductor industry is poised for a rebound starting in the second quarter of 2012," said Bryan Lewis, research VP , in a statement. "The inventory correction is expected to conclude this quarter, foundry utilization rates are bottoming, and the economic outlook is stabilizing."

In the memory sector, DRAM pricing is set to improve beginning in the second quarter of 2012. The DRAM market will show a slight revenue increase in 2012 after being the worst-performing market in 2011, declining 25%. DRAM prices were down about 50% in 2011, and Gartner analysts expect pricing to rebound in part due to Elpida filing bankruptcy protection. NAND flash memory, however, is one of the fastest-growing device types in 2012, with revenues forecast to grow 18%. Gartner analysts credited the NAND flash growth to a strong increase in mobile consumer devices and SSDs.

Media tablet unit production is forecast to increase 78% over 2011, and semiconductor revenues from tablets will climb to US$9.5 billion in 2012. Quad-core processors and higher-resolution displays will be mainstream for tablets in 2012, the firm added.

PC unit production in 2012 is projected to increase 4.7%, and semiconductor revenues from PCs will reach US$57.8 billion. Mobile phone unit production is expected to grow 6.7%, with semiconductor revenues for mobile phones totaling US$57.2 billion in 2012.

"2012 should be a reasonably strong year for the semiconductor industry if the macroeconomic outlook stays in check," Lewis continued. "Gartner's 2012 semiconductor forecast of 4% growth assumes the European debt issues stay contained, Iran/Israel tensions stay in check, and solid growth from China."

In 2011, worldwide semiconductor revenues grew by merely 0.9% to US$302 billion in 2011, according to preliminary results announced by Gartner previously.