What is TSMC's expected revenue growth CAGR over the next several years in U.S. dollar terms
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Despite the ongoing inventory correction, our customers' demand continue to exceed our ability to supply. We expect our capacity to remain tight throughout 2022 and our full-year growth to be mid-30% in U.S. dollar terms. Three key factor in supporting TSMC's strong structural demand are our technology leadership and differentiation, our strong portfolio in high-performance computing and our strategic relationship with customers.
All of these factors are TSMC's strength in the foundry industry. First, on technology leadership and differentiation, TSMC's technology position is much stronger today as compared to previous years. Looking ahead to 2023, we are working diligently to provide the industry most advanced technologies and making it available to all the product innovators with the successful ramp of N5, N4P, N4X, and the upcoming ramp up of N3, we will expand our customer product portfolio and increase our addressable market. The macroeconomic uncertainty may persist into 2023.
Our technology leadership will continue to advance and support our growth. Secondly, the massive structural increase in the demand of computation, underpinned by the industry megatrend, continues to fill greater need for performance and energy-efficient computing, which require use of leading-edge technologies. Through our comprehensive IP ecosystem and optimized process technology, we are able to address and capture the structural demand and build a strong portfolio in high-performance computing. We expect HPC to be the main engine of TSMC's long-term growth and the largest contributor in terms of our incremental revenue growth in the next several years.
Third, our strategic relationship with our customers are long term in nature, developed and built through many years of collaboration and investment to enable customers' success in the high-end market. We continue to work closely with our customer and technology development, capacity planning and pricing to support their long-term demand and growth. With all these three differentiating factors, we expect our capacity utilization to remain healthy in 2023. And our business to be less volatile, they're more resilient, supported by the strong demand for our differentiated and leading advanced and specialty technologies.
Now let me talk about TSMC's long-term growth outlook. While macroeconomic headwinds bring near-term uncertainties that may persist, we believe the fundamental structural growth trajectory in the long-term semiconductor demand remains firmly in place. We continue to observe silicon content increase across many end devices, fueled by process technology migration and increased functionality. For example, the number of CPUs, GPUs, and AI accelerators in the data center are increasing.
5G smartphone carries substantially higher silicon content as compared to 4G smartphone. The amount of silicon content in today's car continue to rise. While the device unit growth of many electronics device may be flattish to low single-digit percentage range, in the next several years, the silicon content growth will be higher, in the mid- to high single-digit percentage range and support the long-term structural semiconductor demand and increase our addressable wafer demand. TSMC's capex and capacity planning are always based on the long-term structural market demand profile, not near-term factors.
We are working closely with our customer to plan our long-term capacity and investing in leading edge and specialty technology to support their growth. We will manage our business prudently through the near-term uncertainties, and we remain highly confident in our long-term growth outlook. With our technology leadership, manufacturing and capacity support and customers trust, TSMC is well positioned to capture the strong multiyear growth from the favorable structural megatrend of 5G and HPC-related applications and deliver profitable growth for our shareholders. We reiterate our long-term revenue to be between 15 and 20 CAGR over the next several years in U.S.
dollar terms. Next, let me talk ab
se areas.
Despite the ongoing inventory correction, our customers' demand continue to exceed our ability to supply. We expect our capacity to remain tight throughout 2022 and our full-year growth to be mid-30% in U.S. dollar terms. Three key factor in supporting TSMC's strong structural demand are our technology leadership and differentiation, our strong portfolio in high-performance computing and our strategic relationship with customers.
All of these factors are TSMC's strength in the foundry industry. First, on technology leadership and differentiation, TSMC's technology position is much stronger today as compared to previous years. Looking ahead to 2023, we are working diligently to provide the industry most advanced technologies and making it available to all the product innovators with the successful ramp of N5, N4P, N4X, and the upcoming ramp up of N3, we will expand our customer product portfolio and increase our addressable market. The macroeconomic uncertainty may persist into 2023.
Our technology leadership will continue to advance and support our growth. Secondly, the massive structural increase in the demand of computation, underpinned by the industry megatrend, continues to fill greater need for performance and energy-efficient computing, which require use of leading-edge technologies. Through our comprehensive IP ecosystem and optimized process technology, we are able to address and capture the structural demand and build a strong portfolio in high-performance computing. We expect HPC to be the main engine of TSMC's long-term growth and the largest contributor in terms of our incremental revenue growth in the next several years.
Third, our strategic relationship with our customers are long term in nature, developed and built through many years of collaboration and investment to enable customers' success in the high-end market. We continue to work closely with our customer and technology development, capacity planning and pricing to support their long-term demand and growth. With all these three differentiating factors, we expect our capacity utilization to remain healthy in 2023. And our business to be less volatile, they're more resilient, supported by the strong demand for our differentiated and leading advanced and specialty technologies.
 Now let me talk about TSMC's long-term growth outlook. While macroeconomic headwinds bring near-term uncertainties that may persist, we believe the fundamental structural growth trajectory in the long-term semiconductor demand remains firmly in place. We continue to observe silicon content increase across many end devices, fueled by process technology migration and increased functionality. For example, the number of CPUs, GPUs, and AI accelerators in the data center are increasing.
5G smartphone carries substantially higher silicon content as compared to 4G smartphone. The amount of silicon content in today's car continue to rise. While the device unit growth of many electronics device may be flattish to low single-digit percentage range, in the next several years, the silicon content growth will be higher, in the mid- to high single-digit percentage range and support the long-term structural semiconductor demand and increase our addressable wafer demand. TSMC's capex and capacity planning are always based on the long-term structural market demand profile, not near-term factors.
We are working closely with our customer to plan our long-term capacity and investing in leading edge and specialty technology to support their growth. We will manage our business prudently through the near-term uncertainties, and we remain highly confident in our long-term growth outlook. With our technology leadership, manufacturing and capacity support and customers trust, TSMC is well positioned to capture the strong multiyear growth from the favorable structural megatrend of 5G and HPC-related applications and deliver profitable growth for our shareholders. We reiterate our long-term revenue to be between 15 and 20 CAGR over the next several years in U.S.
dollar terms. Next, let me talk ab