Goldman Sachs Raises Global HBM Market Size Forecast

Market Size Prediction:
- It is anticipated that the global HBM (High-Bandwidth Memory) market will grow at a compound annual growth rate of approximately 100% from 2023 to 2026.
- The market size is expected to reach USD 30 billion in 2026, representing an upward revision of more than 30% compared to the forecast in March.

Key Growth Drivers:
- Strong AI Investment: Driving growth in HBM demand.
- Advancements in HBM Technology: Increasing HBM capacity per AI chip, further boosting demand.

Four Main Reasons for Goldman Sachs' Revised Forecast:
- Stronger AI-Related Revenue Prospects: Enhanced revenue potential in the HBM supply chain associated with AI.
- Supply Chain Adjustments: Upward revisions in the HBM revenue forecasts for SK Hynix and Samsung.
- Growth in Demand: Increased growth rate predictions for NVIDIA's datacenter computing revenue.
- Accelerated Technology Roadmap: Faster mass production of HBM3E and increased HBM capacity in chips, leading to market price hikes.

Supply and Demand Analysis:
- The HBM market is expected to remain in a state of supply shortage for the next few years, with the supply gap gradually narrowing.

Goldman Sachs' Perspective:
- The HBM market is poised for continued growth, with supply shortages likely to persist.
- SK Hynix and Samsung maintain their dominant positions in the HBM market, while Micron is experiencing the fastest growth.