Automotive Chip Market Expanding Fast

An increasing number of automakers are developing automotive chips on their own.

Market research firm IHS Markit said on Dec. 19 that the global automotive chip market is expected to grow from US$45 billion in 2021 to US$74 billion in 2026. Under the circumstances, more and more automakers are developing automotive chips on their own.

GM is working with Qualcomm, NXP and TSMC and Ford is cooperating with GlobalFoundries, the fourth-largest foundry in the world. In Hyundai Motor Group, the development is being led by Hyundai Mobis.

Electronics manufacturers as well as automakers are accelerating the development of automotive chips. LG Electronics recently entered the industry to develop MCUs. The company is increasing the number of its digital logic designers and system-on-chip engineers and its business in the industry is being led by its vehicle component solutions division, LG Magna e-Powertrain and ZKW.

Samsung Electronics is supplying high-performance SSD and graphics DRAM products to global automakers. Last month, it unveiled 5G communication chips for use in vehicles and power control chips for use in vehicle infotainment processors.

Copyright © BusinessKorea. Prohibited from unauthorized reproduction and redistribution