- Despite the automotive market being at a mature stage with average vehicle unit sales growth projected at 1.24% annually to 2030, we find the use of semiconductor chips in vehicles.
- Automotive MCUs are essential in various vehicle electronic systems and are forecasted to grow at a long-term CAGR of 11.18% based on the 20-year average.
- The rise of autonomous vehicles is expected to spur demand for complex and advanced ADAS SoCs with autonomous vehicle unit growth projected to grow at a 73.9% average rate.
- Finally, automakers are incorporating more LEDs in their designs and to meet rising regulatory requirements as LED content grew at a CAGR of 18.8%.
For further details see:
Top 3 Automotive Semiconductor Stocks To Buy