December 10, 2024 /SemiMedia/ — On December 5, the Semiconductor Industry Association (SIA) announced that global semiconductor sales reached $56.9 billion in October 2024, a 22.1% increase from $46.6 billion in October 2023 and a 2.8% increase from $55.3 billion in September 2024.
Additionally, the World Semiconductor Trade Statistics (WSTS) has revised its forecast for the global semiconductor market for 2024. The report now predicts a 19.0% year-on-year growth in global semiconductor sales, reaching $626.9 billion, with further growth of 11.2% to $697.2 billion in 2025.
SIA President and CEO John Neuffer said, “The global semiconductor market is finishing 2024 strong, with October marking the highest monthly sales on record and achieving the seventh consecutive month of growth. We now expect annual sales to grow nearly 20%, exceeding previous forecasts, and anticipate continued double-digit growth in 2025.”
Regionally, October saw a 54.0% year-on-year increase in sales in the Americas, a 17.0% increase in China, a 12.1% increase in the Asia Pacific/Other regions, and a 7.4% increase in Japan, while Europe saw a 7.0% decline. On a month-to-month basis, sales grew 8.3% in the Americas, 1.3% in Europe, 1.0% in China, and 0.2% in Japan, but slightly declined by 0.7% in the Asia Pacific/Other regions.
This data reflects the ongoing recovery in the semiconductor industry and strong market demand, laying a solid foundation for further growth in 2025.
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