A revised forecast for global semiconductor sales finds the sector growing by 19.0% year-over-year, reaching sales of $626.9 billion, according to data from the Semiconductor Industry Association (SIA).
The even better news is that global chip sales are forecast to reach $697.2 billion in 2025, a year-over-year increase of 11.2%.
“The global semiconductor market is closing out 2024 on a high note, as the industry reached its highest-ever monthly sales total in October and month-to-month sales increased for the seventh consecutive month,” said John Neuffer, SIA president and CEO. “Total annual sales are now projected to increase by nearly 20% in 2024 — higher than earlier forecasts — and then continue to grow by double-digits in 2025.”
Semiconductor sales have been growing substantially in 2024 and in October, sales increased 22.1% compared to the October 2023 total. This equates to $56.9 billion in the month, up from $46.6 billion in October of last year.
Sales were compiled by World Semiconductor Trade Statistics (WSTS) organization, which is endorsed by the SIA and gathers input from a group of global semiconductor companies.
After years of struggling with a global chip shortage, the semiconductor market has been climbing substantially since 2023, and it looks like it will continue into 2025 as some of the programs from the CHIPS and Science Act as well as the European Chips Act begin to make an impact on regional semiconductor manufacturing.
