NXP Semiconductors NV projects significant expansion in its automotive and industrial Internet of Things (IoT) business segments over the next three years.

The company expects growth rates of between 9% and 14% for these sectors from 2025 to 2027, according to statements made by Ron Martino, NXP’s executive vice president and chief sales officer.

The anticipated growth is attributed to the increasing semiconductor content required in automobiles.

Martino also addressed compliance with the most recent United States semiconductor export restrictions to China. He emphasized that NXP follows all regulatory mandates within every market it operates.