Global Semiconductor Sales Soar in Q3 2024, Boosting Market Confidence

Global semiconductor sales surged in the third quarter of 2024, reaching a historic high of $166 billion, up 23.2% from Q3 2023, according to the Semiconductor Industry Association (SIA) (SIA, November 5, 2024)​Semiconductor Industry Association. Demand for semiconductors across consumer electronics, automotive, and telecommunications sectors has driven this significant growth, marking the highest monthly sales total recorded by the industry.

Chip manufacturers are expected to see sustained demand as technological advancements in artificial intelligence, electric vehicles, and 5G infrastructure expand globally. Analysts note that this spike reflects both consumer demand and recent U.S. policies encouraging domestic production. The CHIPS Act, which incentivizes semiconductor production, is aiding firms in establishing facilities stateside, reducing reliance on foreign supply chains and enhancing security (SIA, November 1, 2024)​Semiconductor Industry Association