According to statistics from the Semiconductor Industry Association of the United States (SIA), the global semiconductor industry sales reached $49.1 billion in May, an annual increase of 19.3%, the largest increase since April 2022.
This growth momentum is driven by a number of factors. First of all, the rapid development of generative AI technology and its wide application in various fields has injected strong demand momentum into the semiconductor market. The rise of AI technology has not only promoted the construction of infrastructure such as data centers and cloud computing, but also promoted the rapid development of emerging fields such as intelligent terminals, autonomous driving, and the Internet of Things, which have a huge demand for high-performance and low-power semiconductor products.
From the perspective of regional markets, the growth of the global semiconductor market is characterized by diversification. The Americas market led the world with a year-on-year growth of 43.6%, demonstrating the region's strong momentum in semiconductor demand. The Chinese mainland market also performed well, with a year-on-year increase of 24.2%, showing the huge potential of China as one of the world's largest semiconductor markets. Despite the year-on-year decline in Japan and Europe, Asia-Pacific/all other regions achieved a year-on-year growth of 13.8%, contributing significantly to the growth of the global semiconductor market.
Chart: Global semiconductor sales increased by 19.3% year-on-year in May (Source: SIA)
Looking ahead, the growth prospects of the global semiconductor market remain broad. SIA predicts that global semiconductor industry sales are expected to increase by 16.0% annually to US$611.2 billion in 2024, and by 2025, this figure is expected to grow to US$687.4 billion, a record high for two consecutive years. This forecast is not only based on the current strong performance of the market, but also has a deep insight into future technology trends and market demand.
In addition, South Korea, as a major exporter of semiconductors, further confirmed the prosperity of the global semiconductor market with a sharp increase in semiconductor chip exports in June. According to data from South Korean customs, the annual growth rate of semiconductor chip exports in June was as high as 50.9%, a record monthly high. This data not only reflects the competitiveness of the Korean semiconductor industry, but also reflects the strong demand for semiconductor products in the global market.
Despite the positive market outlook, there are some potential risks, including that the process of domestic substitution may be less than expected, downstream demand may be less than expected, industry competition may intensify, and there may be adverse changes in international relations.
The growth of the global semiconductor market not only reflects the development of the technology industry, but also an important indicator of the vitality of the global economy. With the rapid development of technologies such as AI, Internet of Things, and 5G, the semiconductor industry is expected to continue to maintain growth momentum and provide strong support for the recovery and growth of the global economy.
