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MARKET OUTLOOK

Triton’s research report on the automotive semiconductor market in Latin America infers that the market is estimated to grow at a CAGR of 6.52% during the evaluated period 2021-2028. Mexico, Brazil, and Rest of Latin America shape the market in this region.

In Latin America, Argentina hosts the third-largest automotive fleet. This is mainly owing to the presence of prominent companies such as ON Semiconductor that are driving the demand for automotive semiconductors. Additionally, the country manufactures semiconductors used in automotive for ROHM. Therefore, the growth in business operations by well-known companies is encouraging the adoption of semiconductors, thereby supporting the development of the automotive semiconductor market within Argentina. 

Despite the shortage of semiconductor chips, the automotive sector’s sales are gradually returning to post-pandemic levels in Mexico. In this regard, the transportation ecosystem is likely to witness growth in the upcoming years. Additionally, the country has increased its sales, which has augmented the production process in the automotive sector. Other than this, the export of automotive vehicles has grown considerably over the past year, as stated by the National Institute of Statistics and Geography. Thus, the rise in the automotive industry will ultimately enhance the demand for semiconductors, simultaneously boosting the Mexican automotive semiconductor market. 

COMPETITIVE OUTLOOK 

The leading enterprises in the automotive semiconductor market comprise STMicroelectronics NV, ON Semiconductor Corporation, Toshiba Corporation, Texas Instruments Incorporated, Analog Devices Inc, and Renesas Electronics Corporation.