SIA: 2024 Global Semiconductor Sales to Surge by 13.1%

The Semiconductor Industry Association (SIA) has recently released data indicating an anticipated 9.4% year-over-year decline in global semiconductor sales for 2023, projecting a total of $520 billion, influenced by subdued sales in the PC and smartphone sectors. This projection falls below the recorded $574.1 billion in 2022. Despite this, there is optimistic anticipation of a rebound in 2024, with an estimated growth of 13.1% to reach $588.4 billion.

SIA's data reveals that global semiconductor sales in October 2023 amounted to $46.6 billion, reflecting a 3.9% increase from September 2023's total of $44.9 billion. However, this figure represents a 0.7% decrease compared to October 2022's total of $46.9 billion.

Examining sales by region in October, month-over-month increases were observed in China (6.1%), Asia-Pacific excluding China and Japan (4.9%), the Americas (2.9%), Japan (0.6%), and Europe (0.2%). On a year-over-year basis, Europe (6.6%) and Asia-Pacific excluding China and Japan (0.4%) experienced sales growth, while the Americas (-1.6%), China (-2.5%), and Japan (-3.1%) witnessed sales decline.

SIA President and CEO John Neuffer emphasized that October marked the eighth consecutive month of month-over-month growth in the global semiconductor market, signaling a positive trend in chip demand as 2023 concludes. The industry anticipates a robust rebound in 2024.

These monthly sales figures are compiled by the World Semiconductor Trade Statistics (WSTS) organization, representing a three-month average. SIA accounts for 99% of the U.S. semiconductor industry's revenue and nearly two-thirds of the revenue of non-U.S. chip companies.