Soft landing for automotive semiconductor industry in 2024
The automotive semiconductor market grew another 18% in 2023 based on revenue share analysis. A solid performance, but 6 points lower than the previous forecast. What happened? What does it mean for the 2024 outlook and beyond?
The automotive semiconductor market experienced a more than 25% increase in revenue in both 2021 and 2022, demonstrating significant momentum. Subsequently, in 2023, the market continued its upward trajectory with an increase of 18.1%, reflecting a strong yet relatively slower pace compared to the gains recorded in the previous two years.
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