Figures released by IHS Technology show that global revenues will be worth $353.2 billion this year, a rise from $322.8 billion in 2013.
Dale Ford, chief analyst at IHS, said the growth is broad based – a nearly all semiconductor suppliers have benefited.
IHS segments the semiconductor market in 28 ways, and Ford said that 22 of those have grown this year, compared to 12 showing growth in 2013.
DRAM and flash memory were the movers and shakers in the market, and while revenues for those sectors have risen by around 20 percent, other segments are also showing healthy growth.
DRAM and light emitting diodes (LEDs) have shown growth, and microprocessor markets are also showing strong growth.
Mediatek and Avago are showing strong growth in the semi league table.