A leading computer-chip industry group has revised up its prediction of a rebound in flash-memory sales in 2024 from a worldwide slump.

The World Semiconductor Trade Statistics projects there will be "a robust recovery" next year in its latest global forecast released on Tuesday.

It now estimates the value of the market will grow more than 13 percent in 2024 to 588 billion dollars. That is 1.3 percentage points more than the 11.8 percent growth the group expected six months ago.

The trade group says next year's recovery will largely be driven by a huge expansion of nearly 45 percent in the market for memory products.

WSTS also upgraded its prediction for 2023, although it still expects the first contraction in four years. It says the market will decline 9.4 percent, less than the 10.3 percent seen in the previous forecast.