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MARKET OUTLOOK

Triton Market Research’s report indicates that the North American automotive semiconductor market is anticipated to garner a CAGR of 6.64% during the projected phase 2021-2028. The United States and Canada shape the overall market in this region.

Canada is among the top producers of light vehicles. Moreover, several major companies are leading in developing transformative automotive technologies. Thus, the country’s expertise in emerging technologies has attracted several OEMs to invest in autonomous and connected vehicle research. These OEMs mainly include GM, Ford, and tech giants like Google, Uber, and Nvidia. Along with this, the growth in the tech industry has increased the adoption of AI, machine learning, and deep learning across various industries. Furthermore, several automakers are expecting the vehicles to become electrified, integrated with autonomous driving technologies. Hence, all these developments hold the potential to widen the automotive semiconductor market’s progression across Canada. 

On the contrary, the United States observed a steep decline in automotive production in 2020. However, despite this drop, automotive sales are slowly gaining traction in the country. As per estimates, the sales increased significantly in the latter part of the year, which influenced the demand for semiconductors for application in various components. Other than this, the growing consumer focus on passenger cars and light vehicles has augmented the demand for semiconductors across the country. Therefore, as stated above, these factors are predicted to boost the automotive semiconductor market on a progressive path in the next few years within the United States. 

COMPETITIVE OUTLOOK

The distinguished enterprises in the automotive semiconductor market are Micron Technology Inc, Rohm Co Ltd, Qualcomm Technologies Inc, NXP Semiconductors NV, Microchip Technology Incorporated, Samsung Electronics Co Ltd, and Intel Corporation.