The situation has worsened as automobiles account for only about 10% of the market share for chips while consumer electronics account for some 70% market share.
The team of analysts at DBS Group Research led by Ling Lee Keng have stated in a June 22 report that the chip shortage shows no signs of abating amid strong demand.
The global chip shortage, which started in 2020 and first affected the automobile industry, has now extended to the entire tech industry. According to the analysts, the change in lifestyles has increased demand for consumer electronics.
