Recording an 18.7% year-over-year rise in July 2024, global semiconductor sales, driven by AI advancements and demands, reportedly reached $51.3 billion. The Americas emerged as the fastest growing market.
In July 2024, global semiconductor sales surged to $51.3 billion, marking an 18.7% increase compared to $43.2 billion in July 2023. According to a report by the Semiconductor Industry Association (SIA), based on the data compiled by the World Semiconductor Trade Statistics (WSTS), this growth reflects a 2.7% rise from the $50.0 billion recorded in June 2024.
As WSTS forecasted, global chip demand is surging, which has played an important role behind this rise, driven by advancements in AI and other technologies. Sales are projected to reach $611.2 billion in 2024 and $687.4 billion in 2025.
The semiconductor industry saw varied regional performance. The Americas led with a 40.1% YoY sales increase, rising from US$11 billion to US$15.41 billion. It was followed by China, recording a rise of 19.5% YoY from US$12.74 to US$15.23 worth of sales, and then the Asia Pacific/All Other regions, at a 16.7% increase.
Conversely, Japan experienced a slight decline of 0.8%, falling from US$2.93 to US$3.90. Europe also experienced a significant drop in sales by 12% YoY, where the tally of US$4.73 fell to US$4.16.
On a month-to-month basis, sales increased in the Americas by 4.3%, rising from US$14.77 worth of sales to US$15.41. Asia Pacific/All Other recorded a monthly rise of 3.9%, followed by Japan (3.3%), and China (0.9%), while Europe saw a slight decrease of 0.5%. Semiconductor sales in Europe fell from US$4.18 to US$4.16.
Hence, the Americas emerged as the fastest-growing region, according to the report, stated by John Neuffer, SIA president and CEO, “The global semiconductor market continued to grow substantially on a year-to-year basis in July, and month-to-month sales increased for the fourth consecutive month.”
