The compound annual growth rate of automotive semiconductor industry will reach 12.3% by 2025 From Omdia
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According to a new report from omdia, based on the strong recovery after the epidemic, the compound annual growth rate (CAGR) of the automotive semiconductor industry will reach 12.3% by 2025.
Over the past decade, the number of semiconductor chips in cars has been growing steadily, but several recent trends will jointly further boost the revenue of the automotive semiconductor market, as omdia pointed out in its new report “Automotive semiconductor market tracking – Analysis of the second half of 2021”.
According to Sang Oh, senior analyst in automotive semiconductors at omdia and author of the above market tracking report, these trends include increased sales of electric vehicles (Bev) and increased demand for advanced driving assistance system (ADAS) infotainment and telematics (I & T) systems.
“Compared with traditional internal combustion engine vehicles, the use of semiconductor chips in electric vehicles has reached 2.9 times,” Oh researcher said. “In addition, ADAS applications, such as cameras and collision alarms for parking assistance, as well as information & telecommunications applications, such as the transformation from analog or hybrid instrument panels to digital instrument panels, are driving up the use of semiconductor chips in cars.”
Rebound after the epidemic
In the first half of 2020, COVID-19 made a huge impact on the global automotive semiconductor market. Almost all the world’s automobile production stagnated at the early stage of the epidemic. However, the industry achieved a strong rebound in the third quarter of 2020.
By 2021, there was a momentum of accelerated recovery, with total annual revenue reaching US $51.6 billion, an increase of 28.6% compared with the previous year. However, this recovery momentum coincided with a period when the supply chain of the automobile industry continued to suffer serious impact. Therefore, the global automobile production in 2021 increased by only 2.5% compared with the previous year.
“The stronger recovery we have seen in the automotive semiconductor market as a whole is mainly due to the general sharp rise in prices caused by insufficient supply of automotive semiconductor chips and the result of consumer electronics manufacturers placing orders in advance to grab production capacity and inventory,” explained analyst sang oh.
The automotive semiconductor market tracking report summarizes the automotive semiconductor market and provides some information to help players in the industry better understand and predict future trends. The report covers 30 different types of semiconductor devices used in more than 49 different major automotive electronic applications. The tracking report is based on the prediction of vehicle production and the installation of vehicle electronic modules.
From: omdia
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