Moore's Law is a prediction that a computer’s integrated circuit capability will double every year and costs of computers will go down. The observation was made by Gordon Moore the co-founder of Intel Corporation in 1965. Moore’s Law came about from his observation and the projection of historical trends in the industry. 

The law was used as a benchmark in the computing industry and has greatly impacted the progress of computing power. However, there is a physical limitation on matter and how much smaller circuits can be built. Therefore, Moore’s Law may no longer be relevant in the 2020s as progress on computer hardware run into the wall. Engineers have to turn their focus to software and applications for further progress on computing power.