On January 9th 2024, the Semiconductor Industry Association (SIA) released a report on global semiconductor industry sales for the past year. Notably, the semiconductor microchip industry recorded a 5.3% growth compared to the same period last year in November 2023. This event marks a significant milestone for the global semiconductor industry. For over a year (since August 2022), November 2023 is the first month of a new growth cycle compared to the same period last year.
According to the SIA announcement, the total retail sales of semiconductor chips in November 2023 worldwide reached $48.0 billion, an increase of 5.3% compared to the $45.6 billion in November 2022 and 2.9% higher than the $46.6 billion in October 2023. Monthly sales figures are compiled by the World Semiconductor Trade Statistics (WSTS) organization, with SIA representing 99% of the U.S. semiconductor industry’s retail sales and nearly two-thirds of non-U.S. chip companies.
“Global semiconductor sales increased on a year-to-year basis in November for the first time since August 2022, indicating that the global chip market is continuing to grow as we enter the new year. Looking ahead, the global semiconductor market is projected to experience double-digit growth in 2024,” said John Neuffer, President, and CEO of SIA.
Regionally, year-to-year sales increased in China (7.6%), Asia Pacific/All other (7.1%), Europe (5.6%), and the Americas (3.5%), but decreased in Japan (-0.7%) and Europe (-2.8%). Month-to-month sales increased in China (4.4%), the Americas (3.9%), and Asia Pacific/All Other (3.5%), but decreased in Japan (-0.7%) and Europe (-2.0%).
Based on the sales report, there is optimism for a breakthrough growth in the global semiconductor industry in 2024. 2024 is evaluated as a significant turning point not only for the semiconductor industry but also for the resurgence of the global economy after a series of multilateral crises.