Since Q4 2017, “all markets except mobile” have been on a downward slope. At that time, they had reached US$1.5 billion, but are now down to US$1.1 billion, a -26% drop. These markets went through rough times in 2016 for several reasons, but were actually exhibiting high-growth momentum on a multi-annual basis. In fact, the sum of these markets had doubled from Q1 2015, which translates to a +26% CAGR during 2015 – 2017. But then the industry basically lost a full year’s growth.

The two largest segments, consumer photography (DSC, DSLR, action cameras, drones) and computing (PC, laptop, tablets), have been on a slippery slope for a long time and are now on par with the other two segments: automotive and security.

The largest disappointment is the industrial segment, which had enjoyed a +26% CAGR from 2014 – 2017. But after reaching US$135 million in Q4 2017, it is now back in the US$100 million-per-quarter range. A global halt to capital expenditures in the semiconductor and automotive industries is probably the main reason.