Automotive Semiconductor Demand Forecast 2022 to 2031 - August 2024
Explore our latest forecast on automotive semiconductor demand—get key insights into growth rates, market size, and regional trends projected to drive this sector to $152.5 billion by 2031.
This TechInsights data forecast provides the latest metrics identifying size and growth rate of the future semiconductor demand total across the Powertrain, Body, Chassis, Safety, and Driver Information application domains for the main light vehicle producing regions: North America, Japan, Europe, Russia, South Korea, China, India, Brazil, Thailand, and rest of the world. In 2024, automotive semiconductor is forecast to grow by 11.6%. Over the 5-year-period, 2023 to 2028, the CAAGR is expected to be +10.8%. Excluding semiconductor-based sensors, the CAAGR for automotive semiconductor dollar demand is expected to be even higher at +11.3%. The global automotive semiconductor market value is forecast to be $113.6 billion by 2028, and reach $152.5 billion by 2031 (including semiconductor-based sensors).
