Global semiconductor sales have increased by 18.7 percent year-over-year (YoY), during the 12-month period ending July 2024.
According to data compiled by the World Semiconductor Trade Statistics (WSTS) organization and reported by the Semiconductor Industry Association (SIA), the Americas saw the strongest growth in YoY sales, up 40.1 percent during the period.
China saw the second largest YoY growth, totaling 19.5 percent, while Asia Pacific/All Other recorded growth of 16.7 percent. However, sales also saw a decline in other parts of the world, down 0.8 percent in Japan, and 12 percent in Europe.
Europe was also the only region that recorded a decline in month-over-month, down 0.5 percent.
In total, global semiconductor sales hit $51.3 billion during the 12 month period, compared to $43.2bn sales recorded in the previous year.
“The global semiconductor market continued to grow substantially on a year-to-year basis in July, and month-to-month sales increased for the fourth consecutive month,” said John Neuffer, SIA president and CEO. “The Americas market experienced particularly strong growth in July, with a year-to-year sales increase of 40.1 percent.”
The US government has invested heavily in its domestic semiconductor industry in recent months, having doled out more than $30bn in CHIPS Act funding so far. Companies that have so far been awarded funding under the Act include GlobalFoundries, Intel, TSMC, Samsung Electronics, Micron, and GlobalWafers, and SK Hynix.
In Europe, the European Union has established its own EU Chips Act. Approved in April 2023, the EU has earmarked €43 billion ($47bn) in funding for the Act, with the intention of doubling the EU’s global market share in semiconductors from 10 percent to at least 20 percent by 2030.
