Automotive Semiconductor Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Automotive Semiconductor Market in 2025 is estimated at USD 50.68 billion. The global Market size was around USD 47.45 billion in 2024 and is likely to expand at a CAGR of more than 8.5%, surpassing USD 137.03 billion revenue by 2037. Asia Pacific is expected to hit largest share by 2037, fueled by presence of a large automobile manufacturing network, increasing vehicle sales, and demand for luxury vehicles.
The growth of the market can primarily be attributed to the rising use of innovative technologies in the automotive sector, along with the growing demand for automotive semiconductors worldwide. It is estimated that the average modern vehicle can have over 1,200 different semiconductor chips.
Today, most technologically advanced automobiles manufactured, use semiconductor devices for several critical functions such as power management, displays and control, sensing, and safety features of the vehicle. The critical charging infrastructure necessary to make electric vehicles viable is created by semiconductors in the form of power devices and solar cells. Automotive semiconductors have more applications in hybrid and electric vehicles (EVs), which are growing significantly, and are expected to create massive revenue generation opportunities for the key players operating in the global automotive semiconductor market during the forecast period. It was found that the global sales of electric cars in the first quarter of 2022, were 2 million.
