Worldwide Automotive Semiconductor Market Forecast, 2024-2027

The global automotive semiconductor market was valued at approximately US$40 billion in 2020 and is projected to reach US$88 billion by 2027, increasing at a compound annual growth rate (CAGR) of 11.5%. This robust growth is primarily fueled by the rising demand for advanced driver assistance system (ADAS), infotainment, electrification, and connectivity solutions in vehicles."Autonomous driving and infotainment are the biggest potential application segments," says Adela Guo, senior research director, IDC Asia/Pacific. Guo adds, "both applications will occupy about 50% market share in 2027, semiconductor players should focus on their technology innovation, product quality assurance, manufacturing capacity building, supply chain optimization, ecosystem establishment, and sustainability to take more market share when facing the fierce competition."