Softeq Blog

A blog about all things IoT and business transformation.

Hardware

Topic : Hardware

Chip / Automotive / Hardware

Time to read

5 min

Written By Vera Solovyova / April 1, 2021

How to Tackle Electronic Components Shortage in the Automotive Industry

Automotive industry manufacturers are struggling to get enough chips to build their products—from airbags to navigation systems.This global electronics parts shortage is the result of several factors: pandemic-related work stoppages, increased demand, and broken transportation logistics. As a result, automotive manufacturers worldwide are expected to lose more than $14 billion in revenue in the first quarter of 2021 and approximately $61 billion for the year, as predicted by advisory firm AlixPartners.

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