The automotive semiconductor market is expected to grow from USD 42.9 billion in 2022 and is projected to reach USD 70.0 billion by 2027.
There is a significant demand for power electronics in automotive applications as it is a huge sector in terms of the potential use of electrical energy and the diversity of power electronics to solve all the concerns in automotive applications.
The transformation of passenger cars toward electrification is expected to disrupt the entire supply chain and create a significant shift in market size for automotive semiconductor components.
