Product ID: SQMIG45I2174
Report ID:
SQMIG45I2174 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
97 |
Figures:
76
Global Automotive Semiconductor Market size was valued at USD 43.26 billion in 2022 and is poised to grow from USD 46.8 billion in 2023 to USD 87.2 billion by 2031, growing at a CAGR of 8.1% in the forecast period (2024-2031).
In recent years, the global automotive semiconductor market has been changing consumer preferences and demands by technological advancements and the evolution of the automotive industry.
A surge in electric vehicles (EVs), autonomous driving features, and connectivity solutions is fueling the demand for advanced semiconductor technologies. The integration of complex systems, such as Advanced Driver Assistance Systems (ADAS) and infotainment, is pushing semiconductor innovation.
Additionally, the industry is witnessing a shift towards more efficient and specialized semiconductors for specific automotive applications. The global shortage of semiconductor chips has, however, posed challenges, impacting production capacities for automotive manufacturers. Despite challenges, the market's future is promising, driven by the continuous development of smart and connected vehicles.
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Product ID: SQMIG45I2174