February's year-over-year market growth was the largest since May 2022; global chip sales fell 3.1% month-over-month.

The Semiconductor Industry Association (SIA) announced on April 3 that global semiconductor industry sales totaled $46.2 billion in February 2024, up 16.3% from the $39.7 billion total in February 2023, but down 3.1% from the $47.6 billion total in January 2024.

Although sales fell slightly month-over-month, global semiconductor sales in February were still well ahead of the totals for the same month last year, continuing the market's strong year-over-year growth since the middle of last year," said John Neuffer, president and CEO of SIA. "February's year-over-year sales growth was the largest percentage increase since May 2022, and market growth is expected to continue for the rest of the year."

Regional sales increased year-over-year in China (28.8%), the Americas (22.0%) and Asia Pacific/All Others (15.4%), but sales declined in Europe (-3.4%) and Japan (-8.5%). Monthly sales declined in Asia Pacific/All Others (-1.3%), Europe (-2.3%), Japan (-2.5%), the Americas (-3.9%) and China (-4.3%).

Monthly sales are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average. By revenue, SIA accounts for 99% of the U.S. semiconductor industry and nearly two-thirds of chip companies in the non-U.S. semiconductor industry.

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