According to the Semiconductor Industry Association (SIA), November semiconductor sales reached $48 billion, marking a 5.3% increase compared to November 2022's $45.6 billion. Additionally, this figure represents a 2.9% rise from October 2022's total of $46.6 billion.
"Global semiconductor sales increased on a year-to-year basis in November for the first time since August 2022, an indication that the global chip market is continuing to gain strength as we enter the new year," stated SIA CEO John Neuffer. He further added, "Looking ahead, the global semiconductor market is projected to experience double-digit growth in 2024."
Regionally, year-to-year sales showed positive growth in several areas. China experienced a 7.6% increase, Asia Pacific/All other regions saw a 7.1% rise, Europe witnessed a 5.6% growth, and the Americas recorded a 3.5% increase. However, Europe's year-to-year sales declined by 2.8%.
When examining month-to-month sales, China led the way with a 4.4% increase, followed by the Americas with a 3.9% rise, and Asia Pacific/All Other regions with a 3.5% growth. On the other hand, Japan experienced a slight decrease of 0.7%, while Europe saw a decline of 2.0%.
The positive growth in global semiconductor sales indicates a promising outlook for the industry. As demand for semiconductors continues to rise, manufacturers are expected to ramp up production to meet the increasing needs of various sectors, including automotive, consumer electronics, and telecommunications. This growth trend is likely to continue in the coming years, with double-digit growth projected for 2024.