SEMI CEO Ajit Manocha Sees Semiconductor Market Reaching $3 Trillion by 2035

What happened

At SEMICON West 2026 at the Moscone Center in San Francisco on Oct. 13, SEMI president and CEO Ajit Manocha said the semiconductor market could reach $2 trillion to $3 trillion by 2035. At the same event, SEMI Americas president Joe Stockunas proposed a toast at the opening ceremony marking the first time cumulative global semiconductor market revenue surpassed $1 trillion in the first eight months of a year. Manocha noted he predicted when he took office in 2017 that the market would reach $1 trillion by 2030, and the market crossed that threshold this year about four years ahead of his forecast, reaching the milestone in eight months rather than a full year; he added that actual growth has been much faster than market expectations. SEMI expects annual semiconductor market revenue to reach $1.5 trillion in 2026. Manocha cited investment in new semiconductor fabrication plants (fabs) and data center expansion as key drivers of market growth: a total of 102 fabs are targeted to begin operations by 2029, with 82 already under construction; there are currently 479 operating data centers, with another 77 planned. Fab expansion is expected to increase demand not only for equipment but also for materials and packaging. Beyond Manocha's remark that anything could happen over the next five years, the source does not state any quantified risks to the 2035 forecast.

Impact and signal

Affected components and suppliers

Source and time

Source: The Elec · 10/14/2026 · View original source