Chips and controllers to be an even more lucrative business
The automotive microcontrollers market is expected to grow at a CAGR of 13.78%.
- 2017 $989 million ↑ $1.8 billion by 2022
Why? The markets that depend on chips and controllers are expecting serious growth:
- The market for electric and hybrid vehicles is projected to grow at a CAGR of 16.92%.
- Cybersecurity spending is expected to reach $14 billion by 2022.
- The ADAS market is expected to grow at a CAGR of 19%
- Globally, the infotainment market is expected to reach $40 billion by 2024.
Overall, new mobility technology is expected to drive 40% of automotive industry profits in the next 10-15 years.