Advances in automotive electronics are creating new market opportunities with the advent of the "connected car" and autonomous vehicles.
The Internet of Things also gives rise to the age of the “connected car” and, ultimately, autonomous vehicles. The automobile sector is driving increased chip demand, with increased digitalization and electrification creating above-average semiconductor growth. Automotive electronics account for around 80 to 90 percent of innovations in modern vehicles and is the semiconductor sector’s main industry sector client.
Germany counts among the highest growth rate forecasts for the use of microelectronics in vehicles in Europe, leading the way out of the coronavirus pandemic and forward to a new mobility era.
Growth forecasts for automotive electronics are significantly higher in Germany and China compared to other traditional automotive locations. It is predicted that the use of automotive electronics for vehicles in Germany will grow by 5.6 percent per year, reaching USD 9.6 billion value in 2021. Automotive electronics accounts for around 80 to 90 percent of innovations in modern vehicles.