Automotive Semiconductor Market Is Expected To Reach USD 63.92 Billion By 2028
San Francisco, 13 Dec 2021: The Report Automotive Semiconductor Market Size, Share & Trends Analysis Report By Component (Processor, Sensor, Memory), By Vehicle Type (Passenger Vehicle, LCV, HCV), By Application, By Region, And Segment Forecasts, 2021 - 2028 The global automotive semiconductor market size is expected to reach USD 63.92 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. The growing focus on vehicle safety systems and a significant increase in the adoption of engine control units (ECUs) in modern automobiles are anticipated to drive the demand for automotive semiconductors. Moreover, emerging technologies such as 5G and IoT are expected to play an instrumental role in increasing the demand for automotive semiconductors. Additionally, electric vehicles and all levels of assisted driving technologies are expected to create considerable growth opportunities over the next eig