Automotive semiconductor market will surpass $8.5 bn: IDC

The automotive semiconductor market revenue will surpass $8.5 billion by 2027. The compound annual growth rate (CAGR) for the 2023–2027 period will reach 7 percent, noted Adela Guo, Research Director, IDC Asia Pacific.
IDC predicts that there will be escalating demand for semiconductors such as high-performance computing (HPC) chips, image processing units (IPUs), radar chips, and lidar sensors along with the popularity of advanced driver assistance system (ADAS), electric vehicles (EV), and Internet of Vehicles (IoV).