Solid growth, driven by the U.S. market
🟦 Global Semiconductor Market @ May 2024
According to the Semiconductor Industry Association (SIA), the global semiconductor market grew by 19.3% year-on-year and 4.1% month-over-month to $49.1 billion in May 2024. In particular, the U.S. market grew strongly by 43.6% year-on-year, driving the overall market growth. On the other hand, Europe and Japan continued to struggle, with year-on-year declines.
- Market size: $49.1 billion
- Year-on-year growth: 19.3%
- Month-on-month growth: 4.1%
🟦Biggest growth since April 2022
The U.S. market witnessed particularly strong growth due to the recovery of the U.S. economy. The semiconductor market in May 2024 saw the largest growth since April 2022. Demand in the U.S. is expected to continue to drive the market.
Sales growth by region (year-over-year):
- Americas: up 43.6%
- China: up 24.2%
- Asia-Pacific: up 13.8%
- Europe: -9.6%
- Japan: -5.8%
🟦Summary
Against the backdrop of the recovery of the U.S. economy, the global semiconductor market witnessed solid growth of $49.1 billion in May 2024, up 19.3% year-on-year. In particular, the U.S. market grew strongly, with a high level of 43.6% year-on-year growth. In the future, the market is expected to expand further, mainly in the United States.
2024 is shaping up to be a positive year for the semiconductor market.
