TSMC says global chip market to hit $1.5 trillion by 2030 as AI drives growth

TSMC, the world’s largest contract chipmaker, expects the global semiconductor market to exceed $1.5 trillion by 2030, topping its previous forecast of $1 trillion, according to its presentation materials ahead of a tech symposium on Thursday.

AI and high-performance computing are expected to account for 55% of the $1.5 trillion market, followed by ‌smartphones with 20%, ⁠and ⁠automotive applications with 10%, according to TSMC.