Paul van Gerven
11 December 2023

After eight months of consecutive month-to-month growth, monthly semiconductor sales are now close to demonstrating year-on-year growth. Data from WSTS published by the Semiconductor Industry Association saw global sales go up 3.9 percent over September, which was 0.7 percent lower than the same time last year.

The trend demonstrates “clear, positive momentum for chip demand as 2023 winds down. 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,” says John Neuffer, SIA president and CEO.

WSTS chip sales October
Worldwide semiconductor revenues. Source: WSTS

A new WSTS industry forecast projects annual global sales will decrease by 9.4 percent in 2023 but increase by 13.1 percent in 2024. Market researcher Gartner issued a similar projection of 16.8 percent growth, driven primarily by a recovery in the memory market.