TECH

Automotive semiconductor market will have significant growth

The semiconductor crisis that hit the auto industry this year has shown how important electronic components are to the modern auto industry. As autopilot develops and vehicles become electrified, the industry's need for semiconductor products will only increase. According to some forecasts, by 2026 the segment's revenue will grow to $74 billion.

For comparison, according to analysts at IHS Markit, by the end of the current year, sales of the semiconductor vehicle components market will reach US$ 45 billion, that is, in five years the market capacity in monetary terms will increase by 64% As Business Korea explains, the current crisis has led many automotive giants to independently engage in the development and production of electronic components. General Motors has partnered with Qualcomm, TSMC and NXP in this area, and Ford Motor has entered into an agreement with GlobalFoundries and made an upfront payment that will allow GlobalFoundries to develop essential manufacturing facilities to produce chips for customers.

Korean conglomerate Hyundai Motor relies on the power of Hyundai Mobis to develop chips for its own needs. Other Korean companies are also increasing their automotive activity. LG Electronics started to develop specialized microcontrollers. Samsung Electronics is not only providing the auto industry with its SSDs and memory chips, but has recently developed specialized components for 5G connectivity and power management. 

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