New York: The global chip market reached a highest-ever monthly sales in September at $55.3 billion, up 4.1% month-on-month, the Semiconductor Industry Association (SIA) said on Tuesday. Global chip sales in the third quarter rose 23.2% year-on-year to $166 billion and 10.7% quarter-on-quarter, marking the largest quarterly increase since 2016, the data showed.

According to Anadolu Agency, the highest-ever monthly sales in chips were mainly driven by the Americas, where annual sales increased 46.3% in September. This was followed by China with a 22.9% increase, Asia Pacific/all other regions at 18.4%, and Japan at 7.7%. However, it was noted that chip sales in Europe fell 8.2% year-on-year.

The SIA further detailed that the highest monthly gains in global chip sales were recorded in Japan with a 5.3% increase, followed by Asia Pacific/all other regions at 4.5%, the Americas at 4.1%, Europe at 4%, and China at 3.6%.