Source page: McKinsey & Company
Commentary
Computing to propel chip boom
Artificial Intelligence | Semiconductors
April 2, 2026 – The global semiconductor market is on a trajectory to more than double in size, potentially reaching a value of $1.6 trillion by 2030, from $775 billion in 2024. The computing and data storage sector will largely fuel this expansion, which represents a 13 percent compound annual growth rate, McKinsey’s Bill Wiseman, Marc de Jong, Philipp Pfingstag, and coauthors note. This single vertical is projected to contribute $460 billion, or 55 percent, of the industry’s total growth, while the next two biggest contributors are expected to be wireless and automotive.
To read the article, see “Hiding in plain sight: The underestimated size of the semiconductor industry,” January 15, 2026.
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Visual form
Stacked Bar / Stacked Column: semiconductor-market growth bridge by end-market contribution from 2024 to 2030.
Layout / body structure
The chart starts with the 2024 global semiconductor market total, then builds to the projected 2030 total using color-coded contribution segments. The reader compares the starting market size, the added growth by vertical, and the final 2030 market size in one stacked-column growth view.
What is being compared
It compares the 2024 semiconductor market with the projected 2030 market and breaks the expected growth into computing and data storage, wireless, automotive, wired, industrial, and consumer contributions.
Measurement system
The values are market revenue in US dollars, with segment contributions shown in billions of dollars. The total market rises from $775 billion in 2024 to $1.6 trillion in 2030, equal to a 13 percent compound annual growth rate.
Visible structure inside the graphic
The largest added block is computing and data storage, followed by smaller blocks for wireless, automotive, wired, industrial, and consumer uses. The segments are labeled with both dollar contribution and share of total growth, making the growth pool visibly concentrated in the computing category.
Main takeaway from the visual
The chart shows that the projected chip-market expansion is not evenly distributed across end markets. Computing and data storage supplies most of the growth, tying the market surge directly to AI servers, data centers, and storage demand.
Key standout values or extremes
The market is projected to grow from $775 billion in 2024 to $1.6 trillion in 2030. Computing and data storage adds $460 billion, or 55 percent of total growth; wireless adds $150 billion, or 18 percent; automotive and wired each add about $70 billion.
Controls / sequence, when applicable
This is a static stacked-column market-growth chart; there are no in-chart controls to operate.
Companion media, when applicable
There is no separate companion audio or video; the semiconductor market-growth stacked column is the full visual on this page.