The Automotive Semiconductor Market is driven by a rapidly evolving automotive industry with a healthy CAGR of ~8.6% during the forecast period of 2023 to 2030

According to MRFR analysis, the Global Automotive Semiconductor Market is expected to register a CAGR of ~8.6% from 2022 to 2030 and hold a value of over USD 85,727.8 Million by 2030.

The global automotive semiconductor market refers to the market for semiconductor components that are used in the manufacturing of vehicles, particularly in the automotive industry. These semiconductor components are used for a range of functions, including powertrain control, safety systems, infotainment systems, and other features that rely on electronic control.

The global automotive semiconductor market is driven by technological advancements, rising demand for electric and hybrid vehicles, and increasing government regulations for vehicle safety and emission control. The market is expected to continue to grow as the automotive industry continues to evolve and adopt new technologies.

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The COVID-19 pandemic had a significant impact on the global automotive semiconductor market, as it has on many industries around the world. The pandemic caused disruption in global supply chains, leading to shortages of critical components, including semiconductors, which affected the production of vehicles. As a result, many automakers had to reduce or halt production, leading to a decrease in demand for automotive semiconductors.

The pandemic also accelerated the adoption of new technologies, such as electric and autonomous vehicles, which require advanced semiconductor components. The shift towards remote work and increased online shopping also increased the demand for semiconductor components used in infotainment systems and other vehicle features.

Regional Analysis

The largest region of the global automotive semiconductor market was Asia-Pacific, followed by North America and Europe.

The Asia-Pacific region accounted for the largest market share due to the presence of major automotive manufacturing countries such as China, Japan, South Korea, and India. These countries have a large customer base for automobiles and have witnessed significant growth in the adoption of electric and hybrid vehicles.

 North America and Europe also have significant market shares in the global automotive semiconductor market due to the presence of major automotive manufacturers and suppliers, as well as the increasing adoption of electric and autonomous vehicles in these regions.

Market Segmentation

The Global Automotive Semiconductor Market has been segmented into component and application.

Based on the component, the market has been segmented into processor, analog IC, discrete power device, sensor, memory device and logic IC.

Based on the application, the market has been segmented into powertrain, safety, body electronics and chassis.

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Key Players

Some of the key market players are:

• NXP Semiconductors
• Renesas Electronics
• Infineon Technologies
• STMicroelectronics
• Robert Bosch GmbH
• Texas Instruments
• ON Semiconductor
• ROHM
• Toshiba
• Analog Device

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