Global Semiconductor Sales Growth in August 2024

According to a report from Bank of America this week, global semiconductor sales continued their impressive growth streak in August 2024, marking the ninth consecutive month of double-digit year-over-year (YoY) growth.

Year-over-Year Growth

• 28% YoY increase in semiconductor sales in August.
• This growth was further boosted by 15% month-over-month (MoM) increase, highlighting sustained demand across the industry.

Core Semiconductor Sales

• Core semiconductor sales (excluding memory) rose by 8.4% YoY, marking the thirteenth consecutive month of positive YoY growth.
• Monthly basis shows a 3.9% MoM increase, outperforming seasonal trends.

Memory Sales Surge

• Memory sales experienced the most significant increase, with a 52% MoM jump.
• Breakdown:
  • DRAM: +66.2% MoM
  • NAND: +38.3% MoM
• This surge in memory demand was a key driver behind August’s robust overall performance.

Geographic Performance

• Americas: +26.5% MoM
• China: +18.5% MoM
• Europe: +10.5% MoM
• Japan: +2.7% MoM
• APAC/Other regions: +4.9% MoM

Year-to-Date Growth

• Total semiconductor sales: up 19.4%.
• Core semiconductors: up 9.3%, primarily driven by microprocessor units (MPUs) which rose by 24.6%.

Future Outlook

BofA expects broader industry recovery to continue into 2025, propelled by long-term growth trends in artificial intelligence (AI), semiconductor complexity, and the electrification of automotive and industrial sectors.

Despite uncertainties in demand recovery from sectors like automotive and consumer electronics, the long-term outlook for the semiconductor industry remains strong.