An association representing the U.S. semiconductor industry announced that global sales hit a record 555-point-nine billion dollars last year, up 26-point-two percent from a year earlier.

According to the Semiconductor Industry Association(SIA) on Monday, a record one-point-15 trillion semiconductor units were shipped in 2021, surpassing one trillion units for the first time since 2018.

The record shipment came as chipmakers increased production to meet high demand amid the global chip shortage.

SIA President and CEO John Neuffer forecast demand for production to further rise as chips become even more heavily embedded in the essential technologies of today and the future.

In light of announcements by global chipmakers, including Samsung Electronics and Intel, outlining massive investments in the construction of new factories, the association predicted the global market to expand eight-point-eight percent this year.

By region, China remained the largest single market, with total sales standing at 192-point-five billion dollars in 2021, up 27-point-one percent on-year.