In 2024, the global semiconductor market grew by 19.1% year-on-year to $627.6 billion, surpassing $600 billion in annual sales for the first time. The Semiconductor Industry Association (SIA) predicts double-digit growth in 2025, and the industry’s long-term outlook is extremely strong.
🟦 Global semiconductor market in 2024: sales hit record highs
Global semiconductor sales in 2024 reached a record high of $627.6 billion, up 19.1% year-on-year. This is due to the dramatic increase in demand for semiconductors, driven by advances in AI, autonomous driving technology, and communication infrastructure. In particular, the growth of the memory market was remarkable, with DRAM sales recording the highest growth rate of 82.6% year-on-year.
Moreover, by region, the U.S. market witnessed the largest growth of 44.8% year-on-year, which strongly supported the growth of the semiconductor industry. On the other hand, Japan and Europe contracted by 0.4% and 8.1%, respectively.
🟦 Behind the Rapid Growth—AI and Advanced Technology Boost Demand for Semiconductors
One of the factors that has supported the growth of the semiconductor market is the rapid development of AI technology. In 2024, the development of generative AI will surge the demand for data centers, which has increased the need for high-performance semiconductors. In addition, the sophistication of autonomous driving technology and medical devices is also driving the demand for logic semiconductors and memory chips.
🟦 Summary
Global semiconductor sales in 2024 reached a record high of $627.6 billion, and are expected to continue to grow due to advances in AI and autonomous driving technologies. In particular, while the U.S. market is growing rapidly, the Japan and European markets tend to be sluggish, and regional growth strategies are being questioned.
With double-digit growth expected in 2025 and beyond, national policies and technological innovations will determine the course of the market. I would like to continue to pay attention to trends in the semiconductor industry.
