Chipmaker NXP Semiconductors on Thursday said it believes it will hit US$15 billion in sales by 2024, with much of the expansion coming from internet-connected electric vehicles.
One of those areas is radar sensors, which are increasingly being put into cars for safety systems that can automatically brake before a collision. NXP has 44per cent market share in that field and US$600 million in sales today, and Sievers said the company believes radar chips could hit US$1 billion in sales by 2024.
NXP makes both the"gateway" chips that connect the vehicle to the internet and the"domain controllers" that can distribute software updates to various subsystems in the car, such as the drivetrain.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: