Automotive markets gaining importance for the semiconductor industry
Most semiconductor chips produced worldwide are still sold to the computer and communications market segments. But the importance of the automotive industry as a buyer market is growing – and this sector also shows the greatest growth for the future. This is confirmed by a recent report by the market research company IC Insights.
IC Insights published its 3Q update to the 2022 McClean Report in August. The latest update to IC Insights’ quarterly McClean Report segments the IC market by major product type, including consumer, automotive, computing, industrial, communications and government/military end-use in the Americas, Europe, Japan, China and Asia Pacific.
As per the report, the market share of automotive ICs has been increasing steadily since 1998 – from 4.7% of the total IC revenue in that year to 7.4% in 2021. The market researchers expect the market share of the automotive segment to continue to increase, with a share of 8.5% expected in the current year and 9.9% in 2026. This results in a CAGR of 13.4 % over the period from 2021 to 2026 – more than any other segment. The reason for this growth is the numerous new sensors, analogue devices, controls and optoelectronics that are being installed in most new vehicles. In addition, the increase in global sales of hybrid and electric vehicles is contributing to the projected growth.
Governmental and military customers follow in second place with 11.8% CAGR. The lowest growth at 4.6% is expected in the global consumer markets. With a CAGR of 7.7%, the communications industry is in the middle of the pack, with a market share of 37.3%, defending its top position as the largest sales market for the semiconductor industry. For the computer industry an annual growth of 5.4% is calculated; it thus comes to a market share of 36.0%.
https://www.icinsights.com/services/mcclean-report/pricing-order-forms/
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