(JW Insights) Mar 8 -- Global semiconductor industry sales totaled $41.3 billion in January 2023, down by 18.5% year-on-year and 5.2% month-on-month, said the Semiconductor Industry Association (SIA) on March 3. The January sales in China declined the most both month-on-month and year-on-year at 8% and 31.6%, respectively.

Regionally, the month-to-month sales increased slightly in January in Europe (0.6%), but decreased in Japan (-2.1%), Asia Pacific/All Other (-2.7%), the Americas (-7.9%), and China (-8.0%).

Year-to-year sales in January ticked up in Europe (0.9%) and Japan (0.7%), but fell in the Americas (-12.4%), Asia Pacific/All Other (-19.5%), and China (-31.6%).

“Despite record-high sales in 2022, the global semiconductor market cooled considerably during the second half of the year, and that trend continued during the first month of 2023,” said John Neuffer, SIA president and CEO. “Despite the current short-term cyclical downturn, the long-term outlook for the semiconductor market remains strong due to the ever-increasing role of chips in powering the critical technologies of today and tomorrow.”