BofA analyst expects chip market to grow to $3.2 trillion by 2030
Bank of America analyst Vivek Arya expects the total addressable market for the entire semiconductor industry to reach $3.2 trillion by 2030. According to his forecast, the market will amount to $1.7 trillion as early as this year, MarketWatch reports.
Factors behind the projected growth
Arya links the projected market expansion to growing demand for memory chips and data centers. He also expects a stronger recovery in the automotive and industrial sectors.
More current news is available on the UA.News Telegram channel Telegram.
Assessment amid discussions about AI
The forecast came at a time when investors are assessing the possible consequences of a potential slowdown in artificial intelligence development. At the same time, the Bank of America analyst is more optimistic about the prospects for the semiconductor industry several years ahead.
His assessment applies to the entire semiconductor market. Among the factors the analyst takes into account in his forecast are demand in the memory and data center segments, as well as the recovery of the automotive and industrial industries.
