TAIPEI (Taiwan News) — Fabless Taiwan chipmaker MediaTek is expected to post revenue growth of 60% this year, according to the U.S.-based market research firm IC Insights.

IC Insights ranked the top 25 semiconductor suppliers ranked by sales growth rate and found MediaTek came in second after AMD, forecasting 65% sales growth for 2021. “MediaTek’s chips are found in some of the biggest brands of smartphones, TVs, and voice assistants, as well as Chromebooks, fitness equipment, Wi-Fi routers, and many other systems,” IC Insights said.

“MediaTek has established itself as a leader by providing 4nm-based, 5G technology in its chips for these applications,” IC Insights added. The Taiwanese chipmaker has been increasing the output of networking integrated circuits to meet rising demand and also to help offset falling fourth quarter mobile phone chip sales, according to IC Insights.

The other two Taiwanese firms to make it into the top 25 were United Microelectronics Corporation at No. 13 with a 26% revenue growth for 2021 and Taiwan Semiconductor Manufacturing Co. at No. 15 with a forecast sales growth of 24% for the year.

According to IC Insights, the overall semiconductor market is expected to grow 23% this year, due to changes caused by the pandemic and the economic recovery from COVID-19 in 2021.