October Sees 3.9% Increase in Semi Sales Quarter over Quarter

October semiconductor sales reached $46.6 billion, marking a 3.9% increase compared to September's sales of $44.9 billion, according to the Semiconductor Industry Association (SIA). However, this figure represents a slight decline of 0.7% compared to October 2022's total of $46.9 billion.

The World Semiconductor Trade Statistics (WSTS) industry forecast predicts a 9.4% year-on-year decrease in sales for 2023, followed by a 13.1% increase in 2024. The forecast estimates that sales for 2023 will amount to $520 billion, down from the total sales of $574.1 billion in 2022. In 2024, sales are projected to reach $588.4 billion.

"The global semiconductor market grew on a month-to-month basis for the eighth consecutive time in October, demonstrating clear, positive momentum for chip demand as 2023 winds down," stated SIA CEO John Neuffer. "Moving forward, we forecast year-end sales for 2023 will be down compared to 2022, but the global semiconductor market is projected to rebound strongly next year with double-digit growth projected for 2024."

Regionally, month-to-month sales saw increases in China (6.1%), Asia Pacific/All Other (4.9%), the Americas (2.9%), Japan (0.6%), and Europe (0.2%). Year-to-year sales showed growth in Europe (6.6%) and Asia Pacific/All Other (0.4%), while experiencing declines in the Americas (-1.6%), China (-2.5%), and Japan (-3.1%).