Global Semiconductor Sales Up 19.1% in 2024; Double-Digit Growth Projected in 2025

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The Semiconductor Industry Association (SIA) announced global semiconductor sales hit $627.6 billion in 2024, an increase of 19.1% compared to the 2023 total of $526.8 billion. Additionally, fourth-quarter sales of $170.9 billion were 17.1% more than the fourth quarter of 2023, and 3.0% higher than the third quarter of 2024. And global sales for the month of December 2024 were $57.0 billion, a decrease of 1.2% compared to the November 2024 total. Monthly sales are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average. SIA represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms.

“The global semiconductor market experienced its highest-ever sales year in 2024, topping $600 billion in annual sales for the first time, and double-digit market growth is projected for 2025,” said John Neuffer, SIA president and CEO. “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, yearly sales were up in the Americas (44.8%), China (18.3%), and Asia Pacific/All Others (12.5%), but down in Japan (-0.4%), and Europe (-8.1%). Month-to-month sales in December increased in the Americas (3.2%), but were down in Asia Pacific/All Others (-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 U.S. trade leadership.”

Several semiconductor product segments stood out in 2024. Sales of logic products totaled $212.6 billion in 2024, making it the largest product category by sales. Memory products were second in terms of sales, increasing by 78.9% in 2024 to a total of $165.1 billion. DRAM products, a subset of memory, recorded an 82.6% sales increase, the largest percentage growth of any product category in 2024.