October semiconductor sales of $46.6 billion were up 3.9% on the $44.9 billion of September but 0.7% less than the October 2022 total of $46.9 billion, says the SIA.

A WSTS industry forecast  projects 2023 sales will decrease 9.4% y-o-y in 2023 but increase 13.1% in 2024.

The forecast puts 2023 sales at $520 billion in 2023, down from the 2022 sales total of $574.1 billion.

In 2024,  sales are projected to reach $588.4 billion.

“The global semiconductor market grew on a month-to-month basis for the eighth consecutive time in October, demonstrating clear, positive momentum for chip demand as 2023 winds down,” says SIA CEO John Neuffer, “moving forward, we forecast year-end sales for 2023 will be down compared to 2022, but the global semiconductor market is projected to rebound strongly next year with double-digit growth projected for 2024.”

Regionally, month-to-month sales increased in China (6.1%), Asia Pacific/All Other (4.9%), the Americas (2.9%), Japan (0.6%) and Europe (0.2%). Year-to-year sales were up in Europe (6.6%) and Asia Pacific/All other (0.4%), but down in the Americas (-1.6%), China (-2.5%), and Japan (-3.1%).