In its World Foundry Forecast report, SEMI stressed that after the global fab equipment expenditure is expected to reach 90 billion yuan this year, with the soaring demand for electronic products, driven by digital transformation and other long-term technological trends, global semiconductor equipment investment in end-end fabs is expected to reach a new high of nearly US $100 billion by 2022. The new fab equipment spending record will mark a rare three consecutive years of growth from 2020, a far cry from the historical cyclical trend of expansion in the previous year or two and tepid growth or decline in the next year or two.