The global semiconductor manufacturing industry in the second quarter of 2024 continued to show signs of improvement with significant growth of IC sales, stabilizing capital expenditure, and an increase in installed wafer fab capacity, according to industry association SEMI.
The organization revealed its findings in its Q2 2024 publication of the Semiconductor Manufacturing Monitor (SMM) Report, prepared in partnership with TechInsights.
While slower recovery in some end markets impacted the pace of growth in the first half of the year, the surge in demand for AI chips and high bandwidth memory (HBM) created strong tailwinds driving industry expansion.
Seasonality and weaker than expected consumer demand impacted electronics sales in the first half of 2024 resulting in a 0.8 percent decrease year-over-year (YoY). Starting Q3 2024, electronics sales are forecast to see a rebound, growing 4 percent YoY and 9 percent relative to Q2 2024.
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