Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, has raised its long-term outlook for the global semiconductor industry, projecting the market will surpass $1.5 trillion by 2030, according to presentation materials released ahead of its technology symposium on Thursday. The revised forecast marks a sharp increase from the company’s earlier estimate of $1 trillion, highlighting the accelerating impact of artificial intelligence and high-performance computing on global chip demand.
TSMC expects artificial intelligence and high-performance computing applications to contribute 55% of the projected semiconductor market by the end of the decade. Smartphones are expected to account for 20% of the market, while automotive applications are projected to make up 10%.
