What is the expected demand for TSMC's 3-nanometer technology in 2023, 2024 and beyond, 
e ongoing inventory correction, we observe a high level of customer engagement at both N3 and N3E with a number of tape-outs more than two times than that of N5 in its first and second year. Thus, we are working closely with our tool supplier to address toward delivery challenges and prepare more 3-nanometer capacity to support our customers with strong demand in 2023, 2024 and beyond.
Our 3-nanometer technology will be the most advanced semiconductor technology in both PPA and transistor technology when it is introduced. We are confident that N3 family will be another large and long-lasting node for TSMC. Finally, let me talk about the future driver of leading node adoption. TSMC's ambition is to be the trusted technology and capacity provider for the global logic IC industry for years to come.
Our job is to help our customers unleash their innovations and enable them to capture greater value and win in their end markets. As the industry continues to pursue scaling, it is true that damage shrink is slowing down and becoming more challenging for everyone due to rising process complexity. However, it is also true that demand for energy-efficient computing is accelerating in an intelligent and connected world as technology is becoming more pervasive and essential in people's lives. The semiconductor industry value in the supply chain is increasing, and the value of technology platform is expanding beyond the scope of geometry shrink alone and increasingly toward greater power efficiency.
As a result, our customers value much more than simply transistor cost. System performance and power efficiency has become key motivation for customers who adopt our leading node technologies. By working closely with our customer and technology development, our N3 and N2 will deliver full node stride in performance and power benefits while offering the industry's most advanced transistor scaling. We expect strong demand for our leading node technologies, driven by both smartphone and HPC applications to fuel our long-term revenue growth of 15% to 20% CAGR over the next several years in U.S.
dollar terms. With our leadership in both leading-edge process technology and 3D solutions, TSMC's technology cadence remain constant to deliver the value of our technology platform. We will continue to extend our overall competitiveness and technology leadership while delivering a predictable technology cadence that help our customers to enhance their product competitiveness and grow their market well into the future. This concluding our key message, and thank you for your attention.
Jeff Su
Thank you, C.C. This concludes our prepared statements. Before we begin the Q&A session, I would like to remind everybody to please limit your questions to two at a time to allow all the participants an opportunity to ask questions. Should you wish to raise your question in Chinese, I will translate it to English before our Management answers your question.
[Operator instructions] Now let's begin the Q&A session, operator can we please proceed with the first participant on the line.
Questions & Answers:
Operator
Yes, Jeff. The first one to ask questions Gokul Hariharan from J.P. Morgan. Go ahead, please.
Gokul Hariharan -- JPMorgan Chase and Company -- Analyst
Yes, good afternoon and thanks for taking my question. Congrats on the great results, especially on the margins. So the first question is on N7 and N6, this utilization slack that we are observing. Could we give a little bit more detail on why that is happening and why we think this is short-lived, a couple of quarters issue and we get a pick back in the utilization in the second half of the year? And I think last time we saw, this was for 28-nanometer, but that lasted for a much longer period of time.
So could you also give us some kind of comparison with what happened back in 28-nanometer and why this is going to be very different? And maybe a little bit more color on what are the areas of backfill demand for N7 and N6 as the high-end smartphone processors and HPC start to move on to N5 and then N3. That's 
e ongoing inventory correction, we observe a high level of customer engagement at both N3 and N3E with a number of tape-outs more than two times than that of N5 in its first and second year. Thus, we are working closely with our tool supplier to address toward delivery challenges and prepare more 3-nanometer capacity to support our customers with strong demand in 2023, 2024 and beyond.
Our 3-nanometer technology will be the most advanced semiconductor technology in both PPA and transistor technology when it is introduced. We are confident that N3 family will be another large and long-lasting node for TSMC. Finally, let me talk about the future driver of leading node adoption. TSMC's ambition is to be the trusted technology and capacity provider for the global logic IC industry for years to come.
Our job is to help our customers unleash their innovations and enable them to capture greater value and win in their end markets. As the industry continues to pursue scaling, it is true that damage shrink is slowing down and becoming more challenging for everyone due to rising process complexity. However, it is also true that demand for energy-efficient computing is accelerating in an intelligent and connected world as technology is becoming more pervasive and essential in people's lives. The semiconductor industry value in the supply chain is increasing, and the value of technology platform is expanding beyond the scope of geometry shrink alone and increasingly toward greater power efficiency.
As a result, our customers value much more than simply transistor cost. System performance and power efficiency has become key motivation for customers who adopt our leading node technologies. By working closely with our customer and technology development, our N3 and N2 will deliver full node stride in performance and power benefits while offering the industry's most advanced transistor scaling. We expect strong demand for our leading node technologies, driven by both smartphone and HPC applications to fuel our long-term revenue growth of 15% to 20% CAGR over the next several years in U.S.
dollar terms. With our leadership in both leading-edge process technology and 3D solutions, TSMC's technology cadence remain constant to deliver the value of our technology platform. We will continue to extend our overall competitiveness and technology leadership while delivering a predictable technology cadence that help our customers to enhance their product competitiveness and grow their market well into the future. This concluding our key message, and thank you for your attention.
Jeff Su
 Thank you, C.C. This concludes our prepared statements. Before we begin the Q&A session, I would like to remind everybody to please limit your questions to two at a time to allow all the participants an opportunity to ask questions. Should you wish to raise your question in Chinese, I will translate it to English before our Management answers your question.
[Operator instructions] Now let's begin the Q&A session, operator can we please proceed with the first participant on the line.
Questions & Answers:
Operator
Yes, Jeff. The first one to ask questions Gokul Hariharan from J.P. Morgan. Go ahead, please.
Gokul Hariharan -- JPMorgan Chase and Company -- Analyst
Yes, good afternoon and thanks for taking my question. Congrats on the great results, especially on the margins. So the first question is on N7 and N6, this utilization slack that we are observing. Could we give a little bit more detail on why that is happening and why we think this is short-lived, a couple of quarters issue and we get a pick back in the utilization in the second half of the year? And I think last time we saw, this was for 28-nanometer, but that lasted for a much longer period of time.
So could you also give us some kind of comparison with what happened back in 28-nanometer and why this is going to be very different? And maybe a little bit more color on what are the areas of backfill demand for N7 and N6 as the high-end smartphone processors and HPC start to move on to N5 and then N3. That's 