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North America Automotive Semiconductor Market Forecast 2021-2028

KEY FINDINGS

The North America automotive semiconductor market growth is predicted to progress at a CAGR of 8.27% during the forecast period, 2021-2028. There is fast-paced development of autonomous features, with the growing demand for light commercial vehicles and passengers. Also, the presence of major market players contributes to market growth.

MARKET INSIGHTS

The United States and Canada are assessed for the North America automotive semiconductor market growth analysis. Canada's automotive industry is part of the Great Lakes automotive manufacturing cluster, which is the largest vehicle-producing region in North America. The country is also one of the world's top light vehicle producers. In addition, Canadian companies are leading innovations in transformative automotive technologies. Moreover, the expertise in emerging technologies has led to major investments in connected and autonomous vehicle research from global OEMs like Ford and GM.

Furthermore, the vibrant tech industry is driven by expertise in artificial intelligence (AI) that includes neural networks, computer vision, deep learning, and machine learning. Also, the automotive sector is facing a shortage of semiconductor chips. Statistics Canada data showed a 10.2% decrease in vehicle and parts exports in February 2021. Such factors constitute the Canadian automotive semiconductor market.

COMPETITIVE INSIGHTS

Some of the major firms operating in the market include Intel Corporation, Microchip Technology Incorporated, Rohm Co Ltd, Micron Technology Inc, etc.

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North America Automotive Semiconductor Market Forecast 2021-2028
Published By :Inkwood Research
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