Electrification and Safety will pull Automotive Semiconductor Market Free from COVID-19, says Strategy Analytics
BOSTON--(BUSINESS WIRE)--May 27, 2020--
The full impact of COVID-19 in economic and supply chain disruption terms, remains a dynamic variable that will dictate automotive semiconductor demand in the near term. The Strategy Analytics Powertrain Body Chassis and Safety (PBCS) service report, “ Automotive Semiconductor Demand Forecast 2018 - 2027 ( http://sa-link.cc/1pC ),” predicts that the automotive semiconductor market will contract by almost 7% in 2020 in a baseline scenario.
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Automotive Semiconductor Growth 2019-2024 (Graphic: Business Wire)
Electrified powertrains and safety systems will underpin a return to growth as well as longer term opportunities, collectively growing at a CAAGR (compound annual average growth rate) of over 13 percent over the 2019 – 2024 timeframe and accounting for over 50 percent of the automotive semiconductor market in 2024.
“COVID-19 will significantly impact automotive semiconductor demand in 2020, with recovery hampered by a staggered return to normal vehicle production across the major vehicle production regions”, notes Asif Anwar, report author and PBCS Service Director.
Mr. Anwar continued, “On a positive note, the automotive semiconductor industry was already riding a wave of demand from electrification and ADAS (Advanced Driver Assistance Systems) technologies pre-COVID-19. This will support the industry in its return to a normalcy, albeit at a lower baseline, as well as drive up the average semiconductor content per vehicle through 2027.”
Automotive Semiconductor Demand Forecast 2018 - 2027provides detailed analysis of global semiconductor unit and revenue opportunities in Powertrain, Chassis, Safety, Body and Driver Info domains for the key regional markets, as well as detailing demand major product component categories.
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Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include: industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in: smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20200527005607/en/
CONTACT: Report contacts:
European Contact: Asif Anwar, +44 (0)1908 423 635,[email protected]
US Contact: Mark Fitzgerald, +1 617 614 0773,[email protected]
China Contact: Kevin Li, +86 186 0110 3697,[email protected]
KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS
INDUSTRY KEYWORD: SEMICONDUCTOR HARDWARE OTHER AUTOMOTIVE TECHNOLOGY AUTOMOTIVE
SOURCE: Strategy Analytics
Copyright Business Wire 2020.
PUB: 05/27/2020 09:51 AM/DISC: 05/27/2020 09:51 AM