"The strong performance of Taiwanese fabless IC makers` Chinese smartphone clients, the integration of Taiwan-made controller ICs into the supply chain of international brands, and Taiwanese makers` increasing share of driver ICs for HD LCD panels are contributors to the industry`s doubt digit growth this year, " says Yaru Shih, senior analyst with MIC.

Looking ahead to 2017, MIC anticipates the industry will continue the growth momentum with a shipment value of NT$614.8 billion (USD19.7 billion) and a year-on-year growth of nearly 7%.

"This is because Taiwanese fabless IC manufacturers` shipments for entry-level, mid-range and high-end smartphones will likely see steady growth and that for PC-related ICs such as Type-C and SSD (Solid State Drive) controller ICs will continue to show growth. On top of that, the rising demand for emerging applications including automobile ICs is expected to bolster the industry`s shipments in 2017."