An industry trade group predicts worldwide semiconductor sales will experience an annual growth rate averaging 20 percent for at least three more years.

The Semiconductor Industry Association says in 2000, industry revenues will increase by more than 30 percent, led by strong sales in PCs, wireless phones, wireless devices, set-top boxes and other consumer products. The group says PC demand will bump microprocessor sales from $32 billion this year to $42 billion by the end of 2003, while DRAM chip sales will grow to $50 billion in 2003 from $29 billion in 2000.

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