The world's automotive semiconductor market is expected to grow nearly 20 percent this year on rising demand for automated driving systems, a report said Saturday.
The global chip market for vehicles is estimated to reach US$32.3 billion in 2018, up 18.5 percent from a year earlier, according to the report by market researcher IT Insights.
The report also said that the automotive chips market will likely expand on average 12.5 percent every year by 2021, accounting for 9.3 percent of all semiconductor sales, up from the current 7.5 percent.
Insiders said South Korean chipmakers Samsung Electronics Co. and SK hynix Inc. will benefit from the rising demand for automotive chips as global carmakers are putting automated driving systems in their cars. (Yonhap)