What is the expected revenue opportunity for Applied Materials in the interconnect layers process step for the seven-nanometer and three-nanometer node
 example is an implant, where over the past five years, we've introduced 10 new systems developed for specific ICAPS applications. While navigating near-term challenges remains our top priority today, we are not losing sight of the bigger picture and long-term opportunities.
It's now consensus within the industry that there's a clear path to a $1 trillion semiconductor market before the end of the decade. That would represent a high single-digit compound annual growth rate from where we are today. In other words, it took the industry more than five decades to reach $0.5 trillion of annual revenues and we will add another $0.5 trillion within the next six to eight years. We feel even better about where Applied Materials sits within the ecosystem.
Because technology complexity is increasing, we expect equipment intensity will remain at today's level or increase further over that period. As a result, WFE will grow in line or faster than the overall semiconductor market. Then within equipment spending, major technology inflections are enabled by materials engineering, shifting more dollars to our available market over time. We described the industry road map that will deliver future improvements in performance, power and cost of semiconductor devices as the PPACt playbook.
While different companies have their own version of the PPACt playbook, the fundamental components of the road map are the same: new architectures, new 3D structures, new materials, new ways to shrink and advanced packaging. Within each of these five pillars, clear technology inflections are emerging that can be quantified in terms of impact, value and timing. At our recent master class, we described the industry's transition from FinFET to gate-all-around, which is a new 3D structure. Applied has the broadest portfolio of solutions to enable next-generation transistor technology.
With the gate-all-around inflection, the total available market for our transistor product portfolio grows by more than 15%. Based on our tool of record positions, we expect to increase our share of that available market by more than five points. And in terms of timing, we expect to start ramping shipments next year. In our next master class at the end of the month, we'll talk about wiring and chip integration innovations.
Contact and interconnect are in both major focus areas for our customers, as they develop new materials and new 3D structures, including backside power distribution networks. Between the seven-nanometer and three-nanometer node, contact metalization steps are growing more than 50%, and our total available market is expanding almost 80%. For interconnect layers, process steps are being added even faster, and we expect our revenue opportunity to approximately triple. We'll also provide an update on our momentum in advanced packaging.
At the investor meeting a year ago, we said, we expected to double our packaging revenue between 2020 and 2024. Today, we believe we're on track to hit our 2024 packaging revenue goal one year early by winning more than 60% share of our served market. Beyond equipment, we are delivering and capturing more value with advanced services. Facing both supply constraints and record fab utilization, customers are seeing significant benefits from using our proprietary parts management and service We see this reflected in our results as AGS delivered record revenue in the quarter, up 15% year on year.
Before I hand the call over to Brice, I'll quickly summarize. Semiconductors are the building blocks of the model world, making them more strategically and economically important than ever. Today, the entire industry is working hard to keep up with the world's rapidly growing consumption of silicon. Demand for Applied's products and services is strong, sustainable and broad-based.
We anticipate our ability to fulfill this demand will remain constrained by ongoing supply chain challenges in the near-term with incremental improvements beginning in our fourth quarter. Our number one priority is to continue working collaboratively with customers and
 example is an implant, where over the past five years, we've introduced 10 new systems developed for specific ICAPS applications. While navigating near-term challenges remains our top priority today, we are not losing sight of the bigger picture and long-term opportunities.
It's now consensus within the industry that there's a clear path to a $1 trillion semiconductor market before the end of the decade. That would represent a high single-digit compound annual growth rate from where we are today. In other words, it took the industry more than five decades to reach $0.5 trillion of annual revenues and we will add another $0.5 trillion within the next six to eight years. We feel even better about where Applied Materials sits within the ecosystem.
Because technology complexity is increasing, we expect equipment intensity will remain at today's level or increase further over that period. As a result, WFE will grow in line or faster than the overall semiconductor market. Then within equipment spending, major technology inflections are enabled by materials engineering, shifting more dollars to our available market over time. We described the industry road map that will deliver future improvements in performance, power and cost of semiconductor devices as the PPACt playbook.
While different companies have their own version of the PPACt playbook, the fundamental components of the road map are the same: new architectures, new 3D structures, new materials, new ways to shrink and advanced packaging. Within each of these five pillars, clear technology inflections are emerging that can be quantified in terms of impact, value and timing. At our recent master class, we described the industry's transition from FinFET to gate-all-around, which is a new 3D structure. Applied has the broadest portfolio of solutions to enable next-generation transistor technology.
With the gate-all-around inflection, the total available market for our transistor product portfolio grows by more than 15%. Based on our tool of record positions, we expect to increase our share of that available market by more than five points. And in terms of timing, we expect to start ramping shipments next year. In our next master class at the end of the month, we'll talk about wiring and chip integration innovations.
 Contact and interconnect are in both major focus areas for our customers, as they develop new materials and new 3D structures, including backside power distribution networks. Between the seven-nanometer and three-nanometer node, contact metalization steps are growing more than 50%, and our total available market is expanding almost 80%. For interconnect layers, process steps are being added even faster, and we expect our revenue opportunity to approximately triple. We'll also provide an update on our momentum in advanced packaging.
At the investor meeting a year ago, we said, we expected to double our packaging revenue between 2020 and 2024. Today, we believe we're on track to hit our 2024 packaging revenue goal one year early by winning more than 60% share of our served market. Beyond equipment, we are delivering and capturing more value with advanced services. Facing both supply constraints and record fab utilization, customers are seeing significant benefits from using our proprietary parts management and service We see this reflected in our results as AGS delivered record revenue in the quarter, up 15% year on year.
Before I hand the call over to Brice, I'll quickly summarize. Semiconductors are the building blocks of the model world, making them more strategically and economically important than ever. Today, the entire industry is working hard to keep up with the world's rapidly growing consumption of silicon. Demand for Applied's products and services is strong, sustainable and broad-based.
We anticipate our ability to fulfill this demand will remain constrained by ongoing supply chain challenges in the near-term with incremental improvements beginning in our fourth quarter. Our number one priority is to continue working collaboratively with customers and