2020 is a year to remember in Wafer Fab Equipment. The year started with strong WFE demand from China, Foundries, and was joined by memory in 2H2020. COVID-19 created supply chain shocks that the industry recovered from within weeks, but it also started digitization of business and society that accelerated WFE demand, which will continue for years. As a result, WFE grew 18% to a record $63.6B. Top 5 (AMAT, ASML, LAM, TEL, and KLA) suppliers performed extremely well in the year. Out of mid-tier companies, ASMI, Kokusai, and Canon presented strong growth.