The automotive semiconductor market is witnessing strong growth in 2023, with a swarm of global players vying to capture market share in the rising wave of electrification and smart trends. Which companies stand out in this fierce competition?
Infineon, NXP, Renesas, Denso, Texas Instruments, STMicroelectronics, ON Semiconductor …… Core Tide IC and you together throughout the global automotive semiconductor manufacturers revenue TOP 10.
| Ranking | Company | Revenue in 2022 (Billion USD) | Revenue in 2023 (Billion USD) | Rate of Increase |
|---|---|---|---|---|
| 1 | Infineon (IFXGn) | 70.8 | 86.3 | 21.90% |
| 2 | NXP (NASDAQ: NXPI) | 68.8 | 74.8 | 8.70% |
| 3 | Renesas (TSE: 6723) | 49.6 | 49.7 | 0.20% |
| 4 | Denso (TSE: 6902) | 42.6 | 40.1 | -6.00% |
| 5 | TI (NASDAQ: TXN) | 50 | 59.6 | 19.20% |
| 6 | STM (NASDAQ: STM) | 53.1 | 70.9 | 33.50% |
| 7 | ONSemi (NASDAQ: ON) | 33.6 | 43.2 | 28.60% |
| 8 | Mobileye (NASDAQ: MBLY) | 18.7 | 20.8 | 11.20% |
| 9 | Analog Devices (NASDAQ: ADI) | 25.2 | 29.2 | 15.90% |
| 10 | Qualcomm (NASDAQ: QCOM) | 14.7 | 20.1 | 36.7% |
Infineon
Infineon is the largest automotive semiconductor manufacturer in the world, originally the semiconductor division of Siemens AG, providing semiconductor and system solutions for automotive and industrial power devices, chip cards, and security applications. Infineon possesses cutting-edge technology in the fields of analog and mixed signals, RF, power, and embedded control devices. In Q4 2022, its automotive business accounted for about 47% of its revenue, which increased to 56% in 2023.
NXP Semiconductors
NXP Semiconductors is the second-largest automotive semiconductor manufacturer globally, established in 1891 as part of the Dutch multinational company Royal Philips. It spun off from Philips in 2006, becoming NXP Semiconductors, and merged with Freescale Semiconductor in 2015. NXP primarily provides semiconductor system solutions used in automotive electronics, smart identification, home entertainment, mobile phones, and personal mobile communications.
In 2022, the automotive business accounted for about 52% of its revenue, which increased to 56% in 2023.
Renesas
Renesas is one of the top ten semiconductor chip suppliers globally, formed by the merger of the semiconductor divisions of Hitachi and Mitsubishi Electric. Renesas combines advanced technology and rich experience from Hitachi and Mitsubishi in the semiconductor field, leading globally in designing and manufacturing embedded semiconductors for wireless networks, automotive, consumer, and industrial markets. In 2023, Renesas’ total revenue declined by 2.2% in yen, translating to a 9.2% decrease in dollars. However, its automotive business unit saw a 7.8% increase in yen revenue or a mere 0.2% in dollars. The automotive division’s revenue was 43% of Renesas’ total in 2022, growing to 47% in 2023. Renesas was the only top-tier automotive semiconductor manufacturer to experience a decline in dollar terms.
Denso
Founded in 1949, Denso is Japan’s leading automotive component supplier and one of the top suppliers of automotive systems components worldwide. Major automotive companies like Toyota, Honda, Mazda, Mercedes-Benz, BMW, Audi, Ford, Geely, and Changan are among Denso’s clients.
Texas Instruments
Founded in 1930, Texas Instruments specializes in designing and manufacturing semiconductors, selling them to electronic designers and manufacturers worldwide. The company’s two main business segments are analog and embedded processing. In 2022, Texas Instruments’ automotive business revenue reached $5.0 billion, accounting for 25% of its total revenue. This increased to $5.96 billion in 2023, a 19% growth, significantly boosting its share of total revenue to 34%.
STMicroelectronics
STMicroelectronics is a global semiconductor company with clients like Tesla, Hyundai, BMW, Great Wall, Geely, BYD, and Xpeng in its SiC portfolio. In 2022, the company’s revenue was $16.1 billion, up 26.4% year-over-year, with the automotive division within its ADG business unit contributing 37% to ST’s total revenue, or 33% specifically from automotive. In 2023, revenue rose to $17.3 billion, a 7.2% increase. The automotive division within the ADG business unit accounted for 45% of ST’s total revenue, a significant growth, with automotive business revenues increasing by 33.5%, reaching 41% of ST’s total.
ON Semiconductor
ON Semiconductor is a provider of smart sensing and advanced solutions, also a significant player in the power semiconductor market, focusing on automotive and industrial end markets. In 2022, ON Semiconductor’s revenue was $8.33 billion, slightly decreasing to $8.25 billion in 2023. However, its automotive business showed remarkable growth, with revenues increasing by 28.6% to $4.32 billion, representing 52% of the total revenue in 2023.
Mobileye
Mobileye is a company that applies computer vision, machine learning, data analysis, localization, and mapping technologies to advanced driver-assistance systems and autonomous driving solutions. As a leader in the intelligent driving domain, despite a slowdown in revenue growth in 2023, it maintains a strong market position, holding about a 75% market share in the L2 intelligent driving market.
Analog Devices
Analog Devices, Inc. specializes in manufacturing ADCs, DACs, MEMS, and DSP chips for consumer and industrial products. The company primarily produces high-performance analog, mixed-signal, and digital signal processing (DSP) integrated circuits (ICs), widely used in communications, computing, instrumentation, military/aerospace, automotive, and consumer electronics. After acquiring MAXIM in 2022, ADI saw significant growth in its automotive business, with 2023 automotive revenues reaching $2.92 billion, accounting for 24% of its total revenue.
Qualcomm
Founded in 1985 in California and re-established in Delaware in 1991, Qualcomm is a global leader in developing and commercializing foundational technologies for the wireless industry. Its technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway devices, consumer electronics, and other connected devices.
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