NEW YORK -- Global semiconductor sales are expected to grow at a compound annual rate of 6% from 2012 to 2015, a new report says.

The semiconductor market grew 1% year-over-year last year, after a 32% surge in 2010. In 2011, integrated circuits made up around 82.5% of the total revenues, followed by optoelectronics, discretes and sensors, says Reportlinker.com.

The research firm projects Asia-Pacific will continue to dominate semiconductor demand, with India and China fueling demand in the region due to penetration of smartphones and tablets.

Semiconductor forecasts are notoriously fickle and subject to swings in end-product demand and new applications.