(iTers News) - The Semiconductor Industry Association, which represents U.S. semiconductor chip makers, said that worldwide sales of semiconductors reached US$78.47 billion in the first 3 months of  2014, marking an alll-time high first quarter sales.

Global sales reached US$26.16 billion in March, representing  an increase of 11.4% from a year ago when sales were US$23.48 billion. The  figure was up  0.4% month-on-month. Geographically, sales in U.S.  grew by 16.1% in March year-on-year. Sales in Europe surged 8% from a year ago, too, while Japan wintnessed 0.4% year-on-year growth. Sales in the Asia-Pacific region jumped by 12.9%.

“The global semiconductor market has demonstrated consistent momentum in recent months, and sales are well ahead of last year’s pace through the first quarter of 2014,” said Brian Toohey, president and CEO, Semiconductor Industry Association. “Perhaps most impressively, sales in March increased across all regions and every semiconductor product category compared to last year, demonstrating the market’s broad and diverse strength.”

The march marked  the first time ever for year-to-year sales to increase across all regions. Sales were up compared to the previous month in Europe (3.9%), Asia Pacific (1.4 %), and Japan (0.3 %), but down slightly in the Americas (-4.3%). 

“Although recent semiconductor sales are encouraging, one threat to the semiconductor market’s continued growth and America’s overall economic strength is the innovation deficit – the gap between needed and actual federal investments in research and higher education,” Toohey continued. “Policymakers should act swiftly to close the innovation deficit by committing to robust and sustained investments in basic scientific research and higher education.” 

(Credit: Semiconductor Industry Association)