Bank of America raises semiconductor industry forecast, with market size reaching $2.734 trillion by 2030

Bank of America raised its forecast for the global semiconductor market size from $2.3 trillion to $2.734 trillion in a research report, with an expected compound annual growth rate of 28% from 2025 to 2030. Bank of America believes that the demand for AI is shifting towards solving chip, storage, and power supply constraints. The shortage and price increase of storage chips will drive industry growth, and AI is expected to create $1 trillion in incremental growth in the next five years.