Global semiconductor sales in a year exceeded half a trillion dollars for the first time in 2021. It is because companies have increased production to meet the demand amidst worldwide chip shortage, according to the U.S.-based Semiconductor Industry Association (SIA).
Last year global semiconductor sales reached the highest record of $555.9 billion. It was up by 26.2% compared to 2020.
The semiconductor industry shipped overall 1.15 trillion semiconductor units in 2021.
John Neuffer, SIA President and CEO said, “In 2021, amid the ongoing global chip shortage, semiconductor companies substantially ramped up production to unprecedented levels to address persistently high demand, resulting in record chip sales and units shipped.”
The market in the USA saw the highest sales growth of 27.4% in 2021. Europe recorded a 27.3% increase in sales.
Neuffer added, “Demand for semiconductor production will rise significantly in the years ahead, as chips become even more heavily embedded in the essential technologies of now and the future.”