Global semiconductor market rebound in sight, but tethered to the rise of AI
After a period of slow growth, signs are emerging of a rebound in the global semiconductor market, fueled by a surge in demand for AI technologies.
The Semiconductor Industry Association (SIA) reported this week that global sales in the semiconductor industry reached $48 billion in November 2023. This figure represents a 5.3% rise compared to the $45.6 billion recorded in November 2022 and shows a 2.9% increase from the $46.6 billion total in October 2023.
“Global semiconductor sales increased on a year-to-year basis in November for the first time since August 2022, an indication that the global chip market is continuing to gain strength as we enter the new year,” said John Neuffer, SIA president and CEO. “Looking ahead, the global semiconductor market is projected to experience double-digit growth in 2024.”