Global semiconductor sales surged to $53.1 billion in August, a record for the month, driven by booming demand from the AI wave, according to Semiconductor Industry Association (SIA). This marks a 20.6% year-on-year increase, the highest since April 2022, signaling continued momentum in the semiconductor industry.

Money DJ, citing the Semiconductor Industry Association (SIA), reported that global semiconductor sales in August reached $53.1 billion, up from $44 billion in the same period last year. Data compiled by the World Semiconductor Trade Statistics (WSTS) and published by SIA also showed a 3.5% month-on-month increase from July’s $51.3 billion.

“The global semiconductor market continued to grow substantially in August, hitting its highest-ever sales total for the month of August, and month-to-month sales increased for the fifth consecutive month,” said John Neuffer, SIA president and CEO. “Year-to-year sales increased by the largest percentage since April 2022, driven by a 43.9% year-to-year sales increase into the Americas, and month-to-month sales were up across all regions for the first time since October 2023.”

Regionally, the Americas led the growth in August with a 43.9% year-on-year jump in semiconductor sales, followed by China at 19.2%, the Asia-Pacific and other regions at 17.1%, and Japan at 2%. Europe was the only region to post a decline, down 9%.

On a monthly basis, semiconductor sales increased across all regions. The Americas posted a 7.5% rise, followed by Japan at 2.5%, Europe at 2.4%, China at 1.7%, and the Asia-Pacific and other regions at 1.5%.

Commercial Times reports that WSTS recently raised its global semiconductor sales forecast for 2024 to $611 billion, reflecting a 16% increase from last year, driven by strong demand in computing end markets over the past two quarters. Sales in the Americas and Asia-Pacific are expected to grow significantly this year, with annual increases of 25.1% and 17.5%, respectively. In contrast, Europe is forecast to grow by just 0.5%, while Japan is expected to see a 1.1% decline.

For 2024, WSTS predicts global semiconductor sales will rise further to $687 billion, though growth is expected to slow to 12.5%. All regions, however, are forecast to see positive growth.