The Semiconductor Industry Association (SIA) said its figures showed that sales of chips will top $300 billion in 2011.
Using WSTS figures, the SIA said growth in 2012 is likely to be 3.7 percent and 5.8 percent in 2013.
The sales figures demonstrated the ability of the semiconductor industry to keep growing, said Brian Toohey, president of the SIA.
The SIA produced a graph showing sales for October 2011 that show different geographies are delivering different numbers.
Asia Pacific was down by 0.8 percent compared to September, while the Americas were up by 1.3 percent.
Japan is picking itself up after the tsunami earthquake earlier this year, the SIA said.