SEMI Forecasts Semiconductor Market to Reach $2-3 Trillion by 2035
The International Semiconductor Industry Association (SEMI) forecasts the global semiconductor market will reach between $2 and $3 trillion by 2035. The market surpassed the $1 trillion mark faster than anticipated.
The International Semiconductor Industry Association (SEMI) has forecasted that the global semiconductor market will reach between $2 and $3 trillion by 2035. The projection was announced by SEMI President and CEO Ajit Manocha at SEMICON West 2026 in San Francisco.
Manocha highlighted that the market achieved the $1 trillion milestone in just the first eight months of 2026, significantly outpacing earlier expectations. He recalled his 2017 prediction that the market would reach $1 trillion by 2030, a forecast that was met with skepticism at the time.
Key drivers for this accelerated growth include substantial investments in new wafer fabrication plants and the expansion of data centers. Currently, 102 new wafer fabs are slated to begin production by 2029, with 82 already under construction. Additionally, 479 data centers are in operation, and 77 more are planned.
The expansion in wafer fabrication facilities is expected to boost demand not only for equipment but also for materials and packaging solutions. SEMI anticipates continued significant growth in the semiconductor sector throughout the coming decades.