Micron forecasts memory chip demand to grow as AI semiconductor market expands to $1.5-$1.8 trillion by 2030.
Micron Technology expects memory chip demand to remain strong as data center spending accelerates. The company projects the memory market will exceed $1 trillion by 2027, up from over $800 billion this year, driven by artificial intelligence applications.
Historically, memory chip markets have been cyclical, with supply often outpacing demand. However, McKinsey research forecasts the AI semiconductor market could reach $1.5 trillion to $1.8 trillion by 2030, with memory processors accounting for nearly 30% of the total.
Micron’s management views the current growth phase as structurally different, citing long-term demand trends rather than a typical cyclical upturn. The company’s outlook aligns with broader industry expectations for sustained expansion in AI-related hardware.