LIMERICK, IRELAND -- Semiconductor company Analog Devices expects to maintain double-digit growth in its automotive operations, pushing the division’s contribution to one-fifth or more of the company’s total sales between 2022 and 2024.
“Previously, we underperformed in automotive,” Analog Devices Senior Vice President of Sales and Digital Marketing Martin Cotter told Automotive News Europe during a press event at the company’s European r&d center here this week.
Last year automotive accounted for 16 percent of the Tier 2 supplier’s $6.2 billion in total revenue. The $988 million in revenue for the division was a 23 percent increase on 2017. In 2017, the automotive unit increased it’s revenue by 44 percent to $803 million. Prior to that, though, the unit delivered either a single-digital percentage increase in sales or no increase between 2013 and 2016 (see chart, below, right).