On March 4, the Semiconductor Industry Association (SIA) announced that global semiconductor industry sales totaled $47.6 billion in January 2024, up 15.2% from $41.3 billion in January 2023, but down 2.1% month-on-month from $48.7 billion in December 2023.

The global semiconductor market started the New Year strongly, with worldwide sales growing at the highest year-to-year rate since May 2022. The market is expected to continue to grow through the rest of the year, with annual sales in 2024 expected to achieve double-digit growth compared to 2023.

By region, sales rose 26.6% YoY in China, 20.3% yoY in the Americas, and 12.8% yoy in the Rest of Asia Pacific excluding China and Japan, but fell in Japan (-6.4%) and Europe (-1.4%). On a sequential basis, monthly sales declined in all markets: Rest of Asia Pacific excluding China and Japan (-1.4%), Americas (-1.5%), China (-2.5%), Europe (-2.8%) and Japan (-3.9%).