The Automotive Semiconductor Market size is estimated at USD 72.71 billion in 2024, and is expected to reach USD 123.27 billion by 2029, growing at a CAGR of 11.14% during the forecast period (2024-2029).
The market studied fluctuates due to growing consolidation, technological advancement, and geopolitical scenarios. With the rising vertical integration of IDMs and foundries, the intensity of competition in the market is expected to increase, considering their ability to invest, which results from their revenues.
In a market where the sustainable competitive advantage through innovation is considerably high, the competition is likely to increase, considering the anticipated surge in demand from various automotive firms.
In such a situation, brand identity plays a major role, considering the importance of quality that the automotive firms expect from a semiconductor manufacturing player. The market penetration levels are also high with the presence of large market incumbents, such as NXP Semiconductor NV, Infineon Technologies AG, MediaTek Renesas Electronics Corporation, and Texas Instrument Inc..
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