February 10, 2025 /SemiMedia/ — Global semiconductor sales reached $627.6 billion in 2024, up 19.1% year-on-year, marking a record high, according to the latest report from the Semiconductor Industry Association (SIA). Fourth-quarter sales totaled $170.9 billion, rising 17.1% from a year earlier and 3.0% from the previous quarter. However, December sales declined 1.2% month-on-month to $57.0 billion.

“The global semiconductor market surpassed $600 billion in annual sales for the first time in 2024, setting a new record. Double-digit growth is expected to continue in 2025, with strong long-term prospects for the industry,” said John Neuffer, SIA president and CEO.

By region, sales grew in the Americas (44.8%), China (18.3%), and other Asia-Pacific markets (12.5%), while Japan (-0.4%) and Europe (-8.1%) saw declines. In December, sales rose 3.2% in the Americas but fell in China (-3.8%), Japan (-4.7%), Europe (-6.4%), and other Asia-Pacific regions (-1.4%).

SIA noted that alongside global semiconductor market growth, U.S. domestic chip manufacturing capacity is expected to triple by 2032.

Among semiconductor product categories, logic chips led with $212.6 billion in sales, making them the largest segment. Memory sales surged 78.9% to $165.1 billion, with DRAM sales up 82.6%, the highest growth among all semiconductor categories in 2024.