Semiconductor Market Growth: IP and Automotive

The global semiconductor IP and automotive semiconductor markets are experiencing significant growth. The semiconductor IP market is projected to reach $9.67 billion by 2028, driven by the adoption of modular nature, design complexities of consumer electronic devices, and the need for facilitating shorter time-to-market. The automotive semiconductor market is projected to reach $153.86 billion by 2032, fueled by the adoption of electric and hybrid vehicles, advanced safety and comfort systems, and innovative user interface technologies. The automotive power semiconductor market is also booming, driven by the increasing adoption of electric and hybrid vehicles and the need for power semiconductors in advanced driver assistance systems and autonomous driving technologies.