Global semiconductor sales reached an all-time high in 2021 as the industry increases production amid shortages, the Semiconductor Industry Association (SIA) said in a report Monday.

Semiconductor industry sales totaled $555.9 billion in 2021 around the world – an increase of 26.2% compared to $440.4 billion in 2020.

“The industry shipped a record 1.15 trillion semiconductor units in 2021, as chip companies ramped up production to address high demand amid the global chip shortage,” it said in a statement.

Global sales in December 2021 stood at $50.9 billion, an increase of 28.3% compared to the same period of the previous year.

During the fourth quarter of last year, semiconductor sales came at $152.6 billion, which was 28.3% more than the final quarter of 2020, it said.​​​​​​​

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