Core Insights - The global wafer foundry market is expected to grow by 20% next year, primarily driven by TSMC, which is projected to see revenue growth of 22% to 26%, while other companies will only see growth of 6% to 10%, indicating a trend of "the big get bigger" [1] - The global semiconductor market is anticipated to grow by 11% by 2026, reaching a size of $890 billion, with the potential to challenge the $1 trillion mark by 2028 [1] - The computing market is expected to grow by 18% by 2026, making it the largest growth area in the semiconductor sector, accounting for 46% of the overall semiconductor market [1] Group 1: Wafer Foundry Market - TSMC's market share is projected to reach 73.1% [1] - Other foundries are expected to grow at a rate of 6% to 10% [1] Group 2: Semiconductor Applications - The AI accelerator market is expected to surge by 78%, while application-specific integrated circuits (ASICs) may see a growth of 113%, surpassing the 66% growth of graphics processing units (GPUs) [1] - The global foundry market, including traditional foundry and non-memory integrated device manufacturing (IDM), is expected to grow by approximately 14% by 2026 [2] Group 3: Mature Process and Capacity Utilization - After two years of adjustment, mature process capacity utilization is expected to stabilize above 80% by 2026, supported by strong demand for high-speed transmission chips and efficient power management chips [2] - Chinese manufacturers are expected to exceed 90% capacity utilization due to domestic substitution policies [2] Group 4: IC Design and Market Trends - China's IC design output is projected to surpass Taiwan's by 2025, becoming the leader in the Asia-Pacific region [2] - The Asia-Pacific IC design market is expected to grow by 11% by 2026, with China's market share anticipated to expand to 45% [2] Group 5: Semiconductor Packaging and Testing - The global packaging and testing market is expected to grow by 11% by 2026, with advanced packaging capacity (CoWoS) projected to increase by 72% [2] - TSMC's annual capacity is estimated to expand to 1.1 million units, facing strong demand from companies like NVIDIA and AMD, leading to a supply-demand imbalance [2]