The global chip industry grew 24% in the last year to $33.6bn, marking the move to the high growth phase of the semiconductor cycle.
The data from the Semiconductor Industry Association (SIA) showed a monthly growth of over 3%, with all major regional markets posting both year-to-year and month-to-month increases in July.
The Americas market led the way with growth of 36.1 percent year-to-year and 5.4 percent month-to-month. All monthly sales numbers are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average.
"Worldwide semiconductor sales increased on a year-to-year basis for the twelfth consecutive month in July, reflecting impressive and sustained growth for the global semiconductor market," said John Neuffer, president and CEO, Semiconductor Industry Association. "Sales in July increased throughout every major regional market and semiconductor product category, demonstrating the breadth of the global market's recent upswing, and the industry is on track for another record sales total in 2017."