Sales of semiconductors increased 20 percent year on year and dropped 2.5 percent quarter on quarter to $111.1 billion during the first quarter of 2018, The Semiconductor Industry Association (SIA) said.

Semiconductor sales in March 2018 was $37 billion, an increase of 20 percent compared to March 2017 and 0.7 percent more than February 2018’s total of $36.8 billion.

“The semiconductor market has demonstrated impressive growth through the first quarter of 2018, far exceeding sales through the same point in 2017, which was a record year for semiconductor revenues,” said John Neuffer, president and CEO, Semiconductor Industry Association.

SAI said sales in March increased year-to-year for the 20th consecutive month. All regional markets experienced double-digit growth compared to last year. All major semiconductor product categories experienced year-to-year growth. Memory products lead the growth for the global semiconductor industry.