Automotive Market Outlook Report

Automotive Semiconductor Forecast and Vendor Share

Automotive Market Outlook Report

Discover the latest Automotive Market Outlook Report, analyzing Q1 2024 trends and challenges in the automotive semiconductor landscape. Amid geopolitical tensions and economic concerns, our forecast and TechInsights’ assessment reveal 2023 sector revenues and market shares of top vendors.

Amid ongoing geopolitical tensions, including the war in Ukraine, conflicts in the Middle East, and concerns over a potential debt crisis in China, fears over the global economy are significantly impacting vehicle output. Our latest Automotive Market Outlook Report delves into the latest trends, challenges, and opportunities that shaped the automotive semiconductor landscape in Q1 2024. Through our comprehensive forecast, we shed light on industry challenges and uncover the dynamics shaping the automotive semiconductor market.

The report also includes TechInsights’ quarterly assessment of the automotive semiconductor market, providing a comprehensive analysis of 2023 automotive sector revenues and the market shares of leading semiconductor vendors. This “top-down” analysis details semiconductor vendor sales revenues and market share, highlighting the winners and losers in 2023.

Explore the full report to gain insights and understand the strategic positioning of key players within the industry.

Uncover the latest trends, challenges, and opportunities that shaped the automotive semiconductor landscape in Q1 2024.

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Why This Report is Must-read

Understand Shifts in Electric Vehicle Adoption

The economic downturn has notably affected the consumer uptake of battery electric vehicles (BEVs). Initially driven by early adopters and affluent consumers, BEV adoption has stalled among mainstream buyers due to high selling prices and increased interest rates. This slowdown has led to a significant shift in the market dynamics:

  • Reduced Demand for Semiconductors: Semiconductor suppliers reported a decline in strategic orders related to BEV platforms in late 2023.
  • Shift to Hybrids: The focus is now on full hybrid and plug-in hybrid vehicles, slowing the transition to BEVs and the introduction of advanced electronic architectures.


Industry Outlook and Adjustments

While the short-term challenges are evident, the long-term prospects for automotive semiconductors remain robust:

  • Legislative and OEM Initiatives: Legislative pressures and OEM strategies towards vehicle electrification are expected to drive semiconductor demand.
  • Technological Shifts: The move towards centralized and zonal architectures will continue to shape demand for advanced processors, memory, and other components.


Preparing for the Future

The automotive semiconductor industry must navigate the following critical implications:

  • Inventory Management: An oversupply situation in late 2023 has led to inventory corrections and price reductions.
  • Demand Fluctuations: A temporary mix shift from BEVs to hybrids is expected in 2024, aligning with consumer budget constraints.

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