Automotive Semiconductor Market Size

Automotive Semiconductor Market size was over USD 47.45 billion in 2024 and is anticipated to exceed USD 129.32 billion by the end of 2037, growing at over 8.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive semiconductor is evaluated at USD 50.64 billion. 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.