The global automotive semiconductors market is predicted to bolster considerably during the review period from 2022 to 2030 at a healthy growth rate of approximately 8.8%. The report further anticipates the market to attain a valuation of approximately USD 85,727.8 million by the end of 2030.
Automotive semiconductors are gaining popularity
across the globe in recent years. The primary aspect causing an upsurge in the
market's growth is the rising trend of vehicle electrification across the
globe. The semiconductors adopted in the automotive industry provide heads-up
displays, autonomous driving aids, cell phone integration, performance, and
comfort.
The complexity of these services has raised the
demand for automotive semiconductors and offers a powerful long-term growth
engine. Furthermore, the growing safety features in vehicles are also predicted
to influence the market's growth over the coming years. On the other hand, the
slowdown in the automotive industry may limit the market's growth.
Automotive Semiconductor Market Segment
Analysis
The global market for automotive semiconductors
has been segregated into several segments based on application, component,
vehicle types, vehicle propulsion, and region.
Based on the component, the global market for
automotive semiconductors is split into logic, sensor, analog IC, memory
device, discrete power device, and processor.
Based on the application, the global market for
automotive semiconductors is divided into telematics and infotainment, body
electronics, powertrain, chassis, and safety.
Based on the vehicle types, the global market for
automotive semiconductors is divided into heavy commercial, light commercial,
and passenger cars.
Based on vehicle propulsion, the global market for
automotive semiconductors is fragmented into ICE vehicles and electric
vehicles.
Automotive Semiconductor Market Regional
Analysis
The global market for automotive semiconductors is
analyzed across five critical geographies: Asia-Pacific, Europe, North America,
Latin America, and the Middle East & Africa.
According to the research reports by MRFR, the
North American region is anticipated to hold the leading position across the
global market for automotive semiconductors over the review era. The region has
Mexico, Canada, and the US as the leading growth contributors. The presence of
the leading market players across the region is considered the primary
parameter supporting regional market growth. These players include Chevrolet
Motor Company, General Motors, Ford Motor Company, and Toyota Motor Corporation.
The Asia-Pacific regional market for automotive
semiconductors is anticipated to show the highest growth rate over the
assessment timeframe. The region comprises leading growth contributors such as
Japan, India, and China. The region has recently witnessed a rise in demand for
automotive semiconductors. Foreign organizations are founding their production
facilities and collaborating with local companies for joint ventures, given the
availability of a low-cost labor force. Furthermore, vital government initiatives
are anticipated to catalyze the regional market's growth over the review era.
Automotive Semiconductor Market
Competitive Analysis
The global market for automotive
semiconductors is known to have a solid and competitive landscape. Players
across the globe are implementing several new growth policies such as mergers,
partnerships, product launches, etc. Furthermore, they are focusing more and
more on research development activities to launch innovative and advanced
products.
The catalog for prominent participants across the
automotive semiconductors includes players such as Analog Devices, Toshiba, ON
Semiconductor, Robert Bosch GmbH, Infineon Technologies, NXP
Semiconductors, ROHM, Texas Instruments, STMicroelectronics, Renesas
Electronics, among various others.
Recent Developments
- November
2022- SK Hynix and Samsung Electronics are switching their eyes to
automotive semiconductors as the global demand for high-performance sound
chips for electric vehicles (EVs) is expanding exponentially. The two
firms hold first and second place in the global market for memory
semiconductors, but they do not have much impact on the automotive
semiconductor market.
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