Global sales of semiconductors exceeded half a trillion dollars for the first time ever in 2021, as companies ramped up production to meet demand in light of the chip shortage crisis.
Data released by the Semiconductor Industry Association confirmed that semiconductor sales reached $555.9 billion last year, an increase of 26.2% year on year.
The data, reported by CNBC, added that 1.15 trillion units of semiconductors were shipped last year, the highest level ever.
John Neufer, president of the Semiconductor Industry Association, confirmed that the sector companies intensified their production in 2021 to unprecedented levels, amid the continuing crisis of chip shortages to meet the high levels of demand.
“The demand for the semiconductor production process is expected to rise dramatically in the coming years, as chips become more integrated into the core technologies now and in the future,” he added.