Market Insights Q4 2024 Release - Report - Page 4
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General Market Insight
Semiconductor Industry Market: 2024
Global Semiconductor Manufacturing Industry 2024 at a Glance
Sales Projections
The global semiconductor market reached approximately $588 billion in Q4 2024, reflecting a 13% increase from
$520 billion in 2023. This growth was driven by recovering demand across various sectors, particularly in memory
chips and consumer electronics.
Key drivers of the recovery is largely attributed to:
• Normalised Inventory Levels: Increased demand for memory chips as inventory stabilised.
• End-User Market Growth: Expansions in PCs, smartphones, automotive, and data centres.
• Technological Advancements: The ongoing adoption of AI technologies and 5G infrastructure requiring
advanced semiconductor solutions.
Segment Performance
Memory Chips:
• After a significant downturn in 2023, the memory segment rebounded strongly, with sales returning to pre2023 levels. This recovery was driven by heightened demand from data centres and consumer electronics.
Logic Chips:
• The logic chip market, encompassing processors and microcontrollers, experienced growth fuelled by
advancements in AI, IoT, and automotive applications.
Automotive Semiconductors
• Electric car manufacturers are anticipating 2025 to be a pivotal year. This comes as China's sales growth
decelerates, Europe introduces new emissions targets, and uncertainties loom over potential policy
changes in the US under the incoming Trump administration.
Key Statistics:
• Global sales of fully electric vehicles and plug-in hybrids increased by 25.6% year-on-year to 1.9 million in
December, despite a second consecutive month of slowing growth, according to Rho Motion data.
• In China, sales surged by 36.5% to 1.3 million vehicles in December, culminating in a total of 11 million for the
entire year of 2024.
• In the United States and Canada, EV sales rose by 8.8% to 0.19 million in December.
• Europe saw a modest increase of 0.7% in EV sales, reaching 0.31 million compared to the same month in 2023.
Regional Insights
North America:
• The U.S. semiconductor market benefited from government initiatives to boost domestic manufacturing and
reduce reliance on foreign supply chains. Investments in semiconductor fabs increased substantially.
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