Automotive Semiconductor Demand Forecast 2021 to 2030 - Q2 2023 Executive Summary

While the remnants of the COVID situation and the war in Ukraine, and subsequent fears over the global economy remain dominant factors impacting vehicle output in this update, TechInsights sees signs that semiconductor supply is starting to become less of an issue. In 2023, automotive semiconductor demand is forecast to grow by 19.0%, and over the 2022 to 2027 five-year period the market will grow at a CAAGR of 16.7%. TechInsights forecasts that the global automotive semiconductor market will grow to $144.2 billion by 2030.

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