The semiconductor industry sales surged to $47.6 billion in January 2024, representing an increase of 15.2 percent compared to January 2023, when sales amounted to $41.3 billion, the Semiconductor Industry Association (SIA) said.
However, the figures marked a slight decline of 2.1 percent from December 2023’s total of $48.7 billion. The monthly sales data is collated by the World Semiconductor Trade Statistics (WSTS) organization and reflects a three-month moving average. SIA, representing 99 percent of the U.S. semiconductor industry by revenue and the majority of non-U.S. chip firms, is a key authority in the sector.
John Neuffer, President, and CEO of SIA, expressed optimism about the industry’s performance, stating, “The global semiconductor market started the new year strong, with worldwide sales increasing year-to-year by the largest percentage since May 2022.” Neuffer further projected continued growth throughout the year, forecasting double-digit increases in annual sales for 2024 compared to 2023.
Analyzing regional trends, sales of semiconductor witnessed year-on-year growth in China (26.6 percent), the Americas (20.3 percent), and Asia Pacific/All other regions (12.8 percent). However, Japan (-6.4 percent) and Europe (-1.4 percent) experienced declines in year-on-year sales.
In terms of month-to-month performance, all semiconductor markets recorded decreases: Asia Pacific/All Other (-1.4 percent), the Americas (-1.5 percent), China (-2.5 percent), Europe (-2.8 percent), and Japan (-3.9 percent).
The latest figures on semiconductor industry indicate robust growth in the semiconductor sector, fueled by increasing demand across various regions. Despite the month-to-month dip, industry leaders remain optimistic about sustained growth and technological advancements driving the semiconductor market forward in 2024.
