Global chip sales grew almost nine per cent in the first quarter to $75.8 billion, it has been revealed.
The growth was, according to the Semiconductor Industry Association, fueled by growing consumer and business demand for electronics such as PCs, smartphones and tablets.
Chip sales also grew 8.6 per cent in March to $25.3 billion from $23.2 billion in the same month a year earlier.
"At the close of the first quarter of this year we are very encouraged by the performance of the global and domestic semiconductor industry," commented Brian Toohey, president of the association, in a statement.
"Now more than ever, it's clear that the semiconductor industry is a force driving the US economy forward and out of the recent recession."
This comes shortly after Gartner revealed that sales of semiconductors saw the global market expand by 30 per cent in 2010 from the previous year.
The total market came in at just under $300 billion last year, figures show.