AutoTechInsight
Automotive Semiconductor Market Tracker - November 2022
Early forecasts of growth in 2022 in the automotive chip market ended up with much higher growth reaching almost $67 billion in 2022 despite a decrease in light vehicle production highlighting inventory building across the semiconductor domain. As we approach 2023, unlike previous years the growth forecast is expected to be lower with geopolitical tensions, demand destruction, and lower inventory building all having an impact. Despite this, the average chip content value for a passenger vehicle is still increasing and is expected to exceed $129 billion by 2028, with electrification, autonomous driving, and digital cockpit development being the key drivers for growth.
Early forecasts of growth in 2022 in the automotive chip market ended up with much higher growth reaching almost $67 billion in 2022 despite a decrease in light vehicle production highlighting inventory building across the semiconductor domain. As we approach 2023, unlike previous years the growth forecast is expected to be lower with geopolitical tensions, demand destruction, and lower inventory building all having an impact. Despite this, the average chip content value for a passenger vehicle is still increasing and is expected to exceed $129 billion by 2028, with electrification, autonomous driving, and digital cockpit development being the key drivers for growth.
