Automotive semiconductor market to reach nearly $100 billion by 2029

The global automotive semiconductor market is projected to grow from approximately $67.7 billion in 2024 to nearly $96.9 billion by 2029, according to a recent TrendForce analysis, representing a compound annual growth rate (CAGR) of 7.4%. Growth varies by segment, with high-performance processors and modern memory solutions seeing significantly higher gains than traditional components like microcontrollers, as the market increasingly focuses on vehicle intelligence and electrification technologies