The global automotive semiconductor market exceeded USD 68 billion in 2022 and is anticipated to more than double to reach more than USD 143 billion by the end of 2029—a seven-year CAGR of 11%. The reason is that despite a slump in vehicle sales that has accompanied the market for a number of years, semiconductor content per vehicle is increasing faster than ever before as more and more vehicles adopt advanced safety equipment and electrified powertrains. Especially battery-electric vehicles are the focal point for advanced technology and are fitted with more devices such as advanced displays and multiple ADAS sensors. In fact the average semiconductor content per car (minus aftermarket and commercial vehicles) is expected to reach USD1,467 in 2029, up from USD 812 in 2022. This metric continues to underline the fact that vehicle electronics mostly overrides impacts of car sales and is currently tied to equipment or materials availability.