The World Semiconductor Trade Statistics (WSTS) organization has unveiled its latest projections for the global semiconductor market, highlighting robust growth expectations for 2024 and 2025.

2024: A Year of Strong Rebound
In its updated fall forecast, WSTS has revised its 2024 projections upward, anticipating a significant 19.0% year-over-year growth in the semiconductor market. The global market value for 2024 is now estimated to reach $627 billion, reflecting improved performance in second and third quarter of 2024, particularly in the computing sector.

The Semiconductor Industry Association (SIA) today announced global semiconductor industry sales were $39.6 billion for the month of February 2021, an increase of 14.7% over the February 2020 total of $34.5 billion, but 1.0% less than the January 2021 total of $40.0 billion. Monthly sales are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average. SIA represents 98% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms.

"Global semiconductor sales during the first two months of the year have outpaced sales from early in 2020, when the pandemic began to spread in parts of the world," said John Neuffer, SIA president and CEO. "Sales into the China market saw the largest year-to-year growth, largely because sales there were down substantially early last year."

According to the World Semiconductor Trade Statistics (WSTS) organization, the semiconductor manufacturing world has just seen one of the largest contractions in the last 35 years. The downturn on produced revenue for manufacturers for the month of March consolidated into a decline of 1.8% compared to February of this year, and a decline of 13% when compared to March 2018 - but quarter-reviewed revenues were even worse. In greenback terms, the semiconductor industry saw a decline from $114.7 billion in the previous quarter to "just" $96.8 billion.

The decline was across all semiconductor product categories, as John Neuffer, president and CEO of the Semiconductor Industry Association (SIA) trade group, said: "Sales in March decreased on a year-to-year basis across all major regional markets and semiconductor product categories, consistent with the cyclical trend the global market has experienced recently." Market analysis firm IC Insights says that the decline was more severe than the WSTS reports, and that it totaled a 17.1% reduction in revenue for the first quarter of this year, making it the fourth biggest decline since 1984. As IC Insights said in a statement, "The first quarter is usually the weakest quarter of the year for the IC market, averaging a sequential decline of 2.1% over the past 36 years, but the severity of the 1Q19/4Q18 IC market drop has started this year off at a very low level."