Automotive Semiconductors Market Growing Demands, Top Manufacturers, Industry Size, Regions, Growth Opportunity and Global Trends to 2030
Research Reports
Jul 05, 2022
Automotive Semiconductors Market Overview
Automotive Semiconductor Market is projected to be worth USD 137.82 billion by 2028, registering a CAGR of 18.15% during the forecast period (2021 – 2028). Semiconductors enable most of the innovations in automotive development as the modern car contains features like cell phone integration, heads-up displays, autonomous driving aids, comfort, and performance which needs the aid of the semiconductor. As cars become even more complex, demand for automotive semiconductors will increase progressively and provide a powerful long-term growth engine for the automotive sector.
Automotive semiconductor ICs with different functionalities are used in various automotive products, like navigation control, infotainment systems, and collision detection systems. The electrification and automation of automobiles have led to increased demand in semiconductor wafers. The continuous innovations in the field of semiconductors for wide variety of applications in passenger cars, lightweight commercial vehicle (LCV), heavyweight commercial vehicle (HCV) is attracting several automakers globally, which is paving the path for automotive semiconductors market in the current scenario.
Automotive Semiconductors market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.
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Globally Major key Players accelerates the Automotive Semiconductors Market are, NXP Semiconductor NV, Infineon Technologies AG, Renesas Electronics Corporation, STMicroelectronics N.V., Toshiba Corporation, Texas Instrument Inc., Robert Bosch GmbH, Micron Technology, ON Semiconductor Corporation, and Analog Devices Inc., are among others.
Growth Drivers:
- The electrification and automation of automobiles
- Increasing demand from customers for automatic control of operations
- Rising demand for safety features
- Rise in the number of sensors
Most important Segments of Automotive Semiconductors market covered in this report are,
The global Automotive Semiconductor market has been segmented by Component, Application, Vehicle Type, and region. Based on Component, the global Automotive Semiconductor market can be bifurcated into Processors, Sensors, Memory Devices, Integrated Circuits, Discrete Power Devices, and Others. The Integrated Circuits segment is anticipated to grow at a significant CAGR in the coming years. By Application, the Automotive Semiconductor market has been split into Chassis, Power Electronics, Safety, Body Electronics, Comfort/Entertainment Unit, and Others. The Power Electronics segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years. By Vehicle Type, the Automotive Semiconductor market has been split into passenger cars, LCV, and HCV. The passenger cars segment held a sizeable share and is anticipated to grow at a significant CAGR in the coming years.
Automotive Semiconductors Industry Influence of the global market report:
- Comprehensive assessment of all opportunities and risks in the Automotive Semiconductors Market.
- Automotive Semiconductors Market recent innovations and major events.
- A detailed study of business strategies for the growth of the Automotive Semiconductors Market market-leading players.
- Conclusive study about the growth plot of Automotive Semiconductors Market for forthcoming years.
- In-depth understanding of Automotive Semiconductors Market, market-particular drivers, constraints, and major micro markets.
- Favorable impression inside vital technological and market latest trends striking the Automotive Semiconductors Market.
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The Automotive Semiconductors market trends is growing pervasively, witnessing an exponential growth backed by the increasing investments, competitive activities, global developments, opportunity, and business trends during forecast period 2022 to 2030.
The global Automotive Semiconductors market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.
Automotive Semiconductors Market Regional Analysis
Based on region, the global Automotive Semiconductors market report has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Based on region, the global Automotive Semiconductor market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Faster GDP growth and the highly aspirational Asian consumers have been the two main growth drivers for most of the emerging markets, including China, India, Malaysia, and the other developing markets in Southeast Asia. In China, for example, a rising middle class is expected to continue driving the steady growth of the Chinese auto market, with the market for new purchases and replacement of vehicles increasing. These factors are spurring the demand for automobiles in the region, consequently driving the market for automotive semiconductors.
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