"On monthly cummulative basis, GSS is on track to meet the World Semiconductor Trade Statistics (WSTS) 2014 sales target of US$333.1 billion, as it now already accounts for 91.3 per cent of its full-year estimate," MIDF said in a research note Wednesday.
The research house said that WSTS expected sales for December 2014 to hit about US$29 billion, representing a growth of 8.8 per cent y-o-y.
The Semiconductor Industry Association (SIA), the voice of the United States semiconductor industry, continued to post optimistic sales figures with November 2014 recording the highest monthly sales.
"This level of optimism is expected to continue into 2015 and 2016 as concurred by the WSTS.
"The positive growth will be mainly attributable to higher demand from smartphones and automotive industries," it said, adding the adoption of smartphones remained one of the key driving catalysts for the sector.