Global chip market will nearly double in five years – memory and data centers will accelerate to $3.2 trillion

It took the semiconductor market about 50 years to reach the $1 trillion capacity target, but it is moving faster. Bank of America estimates that the potential market for semiconductor components will grow from US$1.7 trillion to US$3.2 trillion between 2026 and 2030. In addition to the data center field and memory market, the automotive electronics and industrial automation fields will also drive this market. Image source: Micron Technology