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Automotive Semiconductor Market Trends and Forecast

The future of the global automotive semiconductor market looks promising with opportunities in powertrain, chassis, safety, networking/communication, body electronics, and driver information system applications. The global automotive semiconductor market is expected to reach an estimated $81.5 billion by 2028 with a CAGR of 9.4% from 2023 to 2028. The major drivers for this market are growing trend of vehicle electrification, rising demand for advanced safety, convenience, and comfort systems, and increasing installation of ADAS (advanced driver assistance system).