Global Automotive Semiconductor Market to Generate a Revenue of $93,696.2 Million by 2028, Growing at a CAGR of 12.2% from 2021-2028 [280-Pages] | Declared by Research Dive
NEW YORK, June 9, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Automotive Semiconductor Market by Component (Processor, Analog IC, Discrete Power, Sensor, Memory, and Others), Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle), Propulsion Type (Internal Combustion Engine and Electric Engine), Application (Powertrain, Safety, Body Electronics, Chassis, and Telematics & Infotainment), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028".
- According to the report, the global automotive semiconductor market is expected to garner a revenue of $93,696.2 million by 2028, growing exponentially at a CAGR of 12.2% during the forecast period 2021-2028.
- Surging demand for advanced safety features and comfort in the automobiles is expected to drive the growth of the automotive semiconductor market during the forecast period.
- In addition, growing demand for vehicle electrification is further expected to bolster the growth of the market during the forecast period.
- However, increase in the overall cost of the vehicle is expected to impede the growth of the automotive semiconductor market during the forecast period.