Global semiconductor manufacturing industry poised for 2024 recovery, SEMI reports

The global semiconductor manufacturing industry is witnessing a steady recovery, as indicated by the latest findings from SEMI's Semiconductor Manufacturing Monitor (SMM) report for the fourth quarter of 2023, produced in collaboration with TechInsights. With electronics and integrated circuit (IC) sales on the rise, the industry is poised for continued growth in 2024. Sales Growth in Q4 2023: Electronics sales experienced a modest 1% Year-over-Year (YoY) increase in the final quarter of 2023, marking the first annual rise since the second half of 2022. Similarly, IC sales surged by 10% YoY in Q4 2023, driven by improved demand and normalized inventories. Projected Growth in Q1 2024: The positive momentum is expected to continue into Q1 2024, with electronics sales projected to increase by 3% YoY. IC sales are forecasted to strengthen further, with an anticipated 18% YoY growth in Q1 2024. Recovery in Capital Expenditures and Fab Utilization: Capital expenditures and fab utilization rates are anticipated to see a mild recovery starting in Q1 2024, following significant declines in the latter half of 2023. Memory CapEx is projected to rise by 9% Quarter-on-Quarter (QoQ) and 10% YoY in Q1 2024, while Non-Memory CapEx is expected to increase by 16% during the quarter. Moderate Equipment Billings Growth: Although equipment billings surpassed projections in 2023, growth ...