Core Viewpoint - The global semiconductor market is expected to recover by 2025, driven by demand in AI, cloud infrastructure, and advanced consumer electronics, despite Europe lagging behind the US and Asia in the AI boom [1][2]. Group 1: Market Performance - In April 2023, global semiconductor sales reached $57 billion, a month-over-month increase of 2.5% and a year-over-year increase of 22.7% compared to April 2024's $46.4 billion [1]. - By April 2025, the Americas are projected to see a year-over-year increase of 44.4%, while Asia Pacific and China are expected to grow by 23.1% and 14.4%, respectively [1]. - The total semiconductor market size for 2023 is estimated at $700.8 billion, reflecting an 11.2% year-over-year growth, which is lower than the 19.7% growth anticipated for 2024 [2]. Group 2: Regional Insights - The Americas and Asia Pacific are expected to lead growth in 2025 with projected increases of 18.0% and 9.8%, respectively, while Europe is forecasted to grow by only 6.1% due to a focus on industrial and automotive markets [3]. - Japan's semiconductor market is expected to see a modest year-over-year increase of 5.8% in 2025 [3]. Group 3: Product Segmentation - The growth in the semiconductor market is primarily driven by logic and memory segments, which are expected to achieve strong double-digit growth [4]. - Discrete semiconductors, optoelectronics, and micro ICs are projected to experience declines, attributed to ongoing trade tensions and negative economic developments affecting supply chains [5]. - The forecast for the semiconductor market in 2026 anticipates an 8.5% year-over-year growth, with memory again leading the growth, while the overall market may not exceed $1 trillion until 2032 [6].

-20% -10% 0% 10% 20% 30% 40% 电子行业 沪深300 ⚫⚫⚫⚫ 行业月度报告 ·电子行业 中国银河证券|CGS 目录 Catalog | 一、 行业动态… | | --- | | 二、行业新闻 | | 三、 板块跟踪… | | 四、 投资建议 | | 五、风险提示 | 请务必阅读正文最后的中国银河证券股份有限公司免责声明。 2 行业月度报告 · 半导体行业 行业动态:全球半导体销售额突破 6000亿美元 全球半导体销售额首次突破 6000 亿美元。2024 年全球半导体销售额达 6173 亿美元, 同比增长 19.1%。从地区来看,美洲(44.8%)、中国(18.3%)和除中国和日本以外的亚太/其他地区(12.5%) 的年度销售额有所增长,日本(-0.4%)和欧洲(-8.1%)的销售额有所下降。 图1：全球半导体月度销售额（单位：十亿美元） ] 销售额（单位：十亿美元） 销售额同比(单位:%) 60 80 60 50 40 40 20 30 0 20 -20 10 -40 0 -60 003-08 001-08 002-12 004-04 0-070 000-1 002-0 020- ...