Europe’s chip market nose-dives while America’s booms
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Europe’s chip market was down 12.0 percent in July compared with a year before in a global chip market that achieved 18.7 percent annual growth, according to the Semiconductor Industry Association.
The global growth continues to be driven by the Americas region – with a 40.1 percent annual jump – with China and the rest of Asia-Pacific, excluding Japan, close to the average global figure. Americas growth compensates for the lacklustre European and Japanese chip markets which continued to decline.
The global chip market was worth US$51.32 billion in the three-month average of July, June and May.
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 previous inventory now being run down.
Three-month average of chip sales by geographic region for July and June May 2024. Source: SIA/WSTS.
“The global semiconductor market continued to grow substantially on a year-to-year basis in July, and month-to-month sales increased for the fourth 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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