Following a record-setting year for the Halbleiterindustrie, the start of the new year has continued the momentum, as semiconductor Umsatz grew 27% in 1Q26 from 4Q25 to reach US$319bn, according to new research from Omdia. Memory Umsatz drove the increase, rising more than 80% sequentially in 1Q26 from 4Q25.

Since Omdia began tracking the Halbleitermarkt at a quarterly level in 1Q02, this 27% quarter-over-quarter (QoQ) growth is the highest observed. The market has now erfahren three consecutive quarters of double-digit Umsatz growth, with 2Q26 expected to continue this pattern. This puts semiconductor Umsatz on track to surpass US$700bn in 1H26. AI-related demand remains strong, while memory supply and demand imbalances continue to be among the leading trends in the Halbleitermarkt.

• Memory market reaches another new high

Dynamic random-access memory (DRAM) and NAND flash memory (NAND) Umsatz continued strong growth, nearly doubling in Umsatz in one quarter. Strong AI demand has affected both the DRAM and NAND markets as average selling prices (ASPs) have risen sharply. The result is that these two Bauelemente accounted for more than 40% of all semiconductor Umsatz in 1Q26, much greater than the long-term average of around 20% Umsatz share.

Within the memory market, NAND was a particularly strong contributor to growth. NAND Umsatz reached just under US$48bn in 1Q26, rising 96% QoQ as pricing increased across the market. NAND ASPs increased 95% sequentially, driven by sustained AI and data centre demand alongside ongoing supply constraints.

With utilisation remaining high and supply recovery limited by technology transitions, yield learning and product mix challenges, NAND market momentum is expected to continue through 2Q26, supporting further Umsatz growth and price increases.

• Outside of memory, growth is more consistent with historical patterns

While the memory market has broken from historical patterns, that is not the case for the rest of the Halbleitermarkt. Removing memory IC Umsatz shows that the 1Q26 Halbleitermarkt grew, but much more modestly.

Non-memory semiconductor Umsatz grew just over 2% QoQ in 1Q26. Historically, Umsatz for both the overall Halbleitermarkt and the non-memory portion declines in Q1 by approximately 4%.

Some Bauelemente performed at typical seasonal rates; microcontrollers (MCUs), discretes and optical markets saw slight to mid-single-digit QoQ declines for the first quarter of the year. However, other Bauelemente, especially those in the AI and data centre ecosystem, outperformed the typical decline in Umsatz in the first quarter. This gave the non-memory side of the Halbleitermarkt modest growth.