Powertrain and Safety Domains to Grow at a CAAGR of over 13%
BOSTON–(BUSINESS WIRE)–The full impact of COVID-19 in economic and supply chain disruption terms, remains a dynamic variable that will dictate automotive semiconductor demand in the near term. The Strategy Analytics Powertrain Body Chassis and Safety (PBCS) service report, “Automotive Semiconductor Demand Forecast 2018 – 2027 (http://sa-link.cc/1pC),” predicts that the automotive semiconductor market will contract by almost 7% in 2020 in a baseline scenario.
Electrified powertrains and safety systems will underpin a return to growth as well as longer term opportunities, collectively growing at a CAAGR (compound annual average growth rate) of over 13 percent over the 2019 – 2024 timeframe and accounting for over 50 percent of the automotive semiconductor market in 2024.
“COVID-19 will significantly impact automotive semiconductor demand in 2020, with recovery hampered by a staggered return to normal vehicle production across the major vehicle production regions”, notes Asif Anwar, report author and PBCS Service Director.
Mr. Anwar continued, “On a positive note, the automotive semiconductor industry was already riding a wave of demand from electrification and ADAS (Advanced Driver Assistance Systems) technologies pre-COVID-19. This will support the industry in its return to a normalcy, albeit at a lower baseline, as well as drive up the average semiconductor content per vehicle through 2027.”
Automotive Semiconductor Demand Forecast 2018 – 2027 provides detailed analysis of global semiconductor unit and revenue opportunities in Powertrain, Chassis, Safety, Body and Driver Info domains for the key regional markets, as well as detailing demand major product component categories.
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