America’s appetite keeps annual global chip market growth at 20%
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Americas region annual growth in the chip market was 43.9 percent and this helped the global chip market that record 20.6 percent annual growth, according to the Semiconductor Industry Association.
On a monthly sequential basis, the three-month moving averages (3MMAs) the Americas, Europe and Japan showed better growth than the rest of Asia. However compared with a year before, the China and Asia-Pacific regions showed growth just below the 20 percent mark and Europe continues to plummet – down 9.0 percent on an annual basis.
The global chip market was worth US$53.12 billion in the three-month average of August, July and June.
This remains consistent with a semiconductor market boom driven by returning consumer confidence and AI but sluggishness in automotive, industrial and infrastructure markets potentially due to previously acquired inventory now being run down.
Three-month average of chip sales by geographic region for August, July and June 2024. Source: SIA/WSTS.
“The global semiconductor market continued to grow substantially in August, hitting its highest-ever sales total for the month of August, and month-to-month sales increased for the fifth consecutive month,” said John Neuffer, CEO of SIA, in a statement.
Monthly data is given by the SIA as a three-month average although the source of the data, WSTS, tracks sales monthly basis. The SIA and other regional semiconductor industry bodies opt to use averaged data because it evens out the actual data that typically shows troughs at the beginnings of quarters and peaks at the ends of quarters.
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