Moore’s Law estimates the growth of component density on an integrated circuit. It was proposed in 1965 by Gordon Moore, a semiconductor pioneer. In 1975, Moore refined the estimate to a doubling – that is, twice as many components – every two years.
Doubling every two years was a good predictor between about 1970 and 2015. Since about 2015, advances in performance, cost and miniaturization have depended less on component density per integrated circuit, and more on other techniques. Even so, the improvement is often still referred to as Moore’s Law.