This year, many automakers faced a semiconductor shortage that is expected to persist for the rest of the year. This was due to the growing demand for hybrid and electric vehicles, fueled by rising Government incentives to go green. Such vehicles require more powerful semiconductor systems to control the vehicle components. According to an IHS Markit report, the market for automotive semiconductors is expected to be worth $67.6 billion globally by 2026, indicating a compounded annual growth rate (CAGR) of 7% between 2019 and 2026.
https://www.tipranks.com/news/article/nxp-vs-analog-devices-which-strong-buy-semiconductor-stock-could-deliver-higher-returns-in-2021
NXP Semiconductors NV (NASDAQ:NXPI)
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