Bank of America Raises US Semiconductor Growth Forecast to 18%

Bank of America increased its compound annual growth rate forecast for the United States semiconductor industry to 18% for the period between 2026 and 2030, up from a previous estimate of 14%. The financial institution now projects the total addressable market will reach $3.2 trillion by 2030, an increase from its earlier $2.7 trillion projection.

This revision follows stronger expectations for memory chips, specifically NAND and DRAM, and server components. The bank also noted recoveries within the automotive and industrial sectors as contributing factors to the growth.

Additionally, the bank raised its estimates for wafer fabrication equipment to $156 billion for 2026 and $210 billion for 2027. These adjustments are based on robust capacity commitments and customer orders within the data center and artificial intelligence sectors.