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MARKET OUTLOOK

Triton’s research report insinuates that the Middle East and Africa’s automotive semiconductor market is estimated to witness growth at a CAGR of 6.30% through the estimated years 2021-2028. Turkey, the UAE, South Africa, Saudi Arabia, and Rest of Middle East & Africa form the considered market in this region.

In the region, Saudi Arabia is considered to have the largest automotive sales and auto parts segment. Moreover, it remains an important market for US automakers. Additionally, as per estimates, it is the fifth-largest export market for US passenger vehicles and light trucks. Besides, SUVs and luxury cars are widely adopted vehicles in the country, gaining significant traction among consumers. Furthermore, several leading companies, such as BMW and Mercedes, are dominating the automotive industry in the country. Hence, the robust automotive industry is likely to fuel the semiconductor demand, driving Saudi Arabia’s automotive semiconductor market on a positive growth trajectory. 

While the automotive industry has witnessed an increase in sales, the shortage of semiconductors has hindered the production process in Turkey. Nevertheless, the steady growth in automotive sales will improve the production of semiconductors in the next few years. Besides, the country is dependent on local production centers to manufacture components for the defense industry. For instance, the National Electronics and Cryptology Research Institute is attempting to manufacture components at its Semiconductor Technologies Research Laboratory. This will significantly contribute to the development of the automotive semiconductor market. 

COMPETITIVE OUTLOOK

The popular companies in the automotive semiconductor market include Renesas Electronics Corporation, Toshiba Corporation, Rohm Co Ltd, STMicroelectronics NV, Analog Devices Inc, Infineon Technologies AG, ON Semiconductor Corporation, and Texas Instruments Incorporated.