“Global semiconductor sales were sluggish early in 2023 but rebounded strongly during the second half of the year, a trend we expect to continue in 2024,” said John Neuffer, SIA president and chief executive officer. “With chips playing a larger and more important role in countless products the world depends on, the long-term outlook for the semiconductor market is extremely strong.”
The global chip industry is poised for a significant rebound this year with sales expected to jump to a record level, fueled by a greater need for the electrical components from a broad range of businesses, according to a forecast from the Semiconductor Industry Association.
Worldwide sales declined 8.2% to US$526.8 billion in 2023, although the fall was mitigated by improving conditions in the second half of the year, the association said Monday in a statement. The increasing momentum indicates sales will gain 13% this year to almost US$600 billion, the SIA said.
