Global semiconductor sales up 19% in 2024

It surpassed $600b for the first time, the SIA said.

The global semiconductor sales reached $627.6 billion in 2024, up 19.1% year-on-year, the Semiconductor Industry Association (SIA) reported.

Fourth-quarter sales totalled $170.9b, 17.1% higher than in the same period in 2023, and 3% more than the previous quarter's sales.

In December 2024, global sales amounted to $57b, reflecting a slight decrease of 1.2% compared to November 2024. These monthly sales figures are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average.

The SIA represents 99% of the revenue from the US semiconductor industry and nearly two-thirds of non-US chip companies.

“The global semiconductor market experienced its highest-ever sales year in 2024, topping $600b in annual sales for the first time, and double-digit market growth is projected for 2025,” John Neuffer, SIA president and CEO said.

“Semiconductors enable virtually all modern technologies – including medical devices, communications, defense applications, AI, advanced transportation, and countless others – and the long-term industry outlook is incredibly strong.”

Regionally, annual sales increased in the Americas (44.8%), China (18.3%), and the Asia Pacific/All Other regions (12.5%), while they decreased in Japan (-0.4%) and Europe (-8.1%). In December, month-to-month sales rose in the Americas by 3.2%, but fell in the Asia Pacific/All Other (-1.4%), China (-3.8%), Japan (-4.7%), and Europe (-6.4%).

“As semiconductor sales rise globally, America is projected to triple its domestic chip manufacturing capacity by 2032, putting our country in a strong position to reinforce its supply chains and help meet rising global demand. To keep America on top in chip technology, leaders in Washington should advance policies that promote semiconductor production and innovation, strengthen the high-tech workforce, and restore US trade leadership.”

Notable product segments in semiconductors showed significant performance in 2024. Logic products led the way with sales of $212.6b, making them the largest category. Memory products ranked second, increasing by 78.9% to reach $165.1b. Within this category, DRAM products experienced the largest growth, with sales increasing by 82.6%, the highest percentage increase of any product line in 2024.