It is expected that the Automotive Chip Market Size will hold worth USD 128.08 billion by 2032 and a CAGR of 12.27% during the forecast period 2023 to 2032.
The market was valued at USD 45.2 billion in 2022.
Automotive chips are used to monitor and control the different functions of an
automobile. It uses many algorithms to solve a particular task.
Consumers can experience a smooth and easy driving
experience to the drivers. Automotive cars can use the chip to handle the
navigation and infotainment system. It helps consumers to protect their
vehicles by providing an anti-theft system.
With the sudden coronavirus outbreak, the market got
severely impacted. The impact was mostly due to the disruption in the supply
chain, which led to decreases in the demand for commercial vehicles as the
non-essential services declined.
The main
cause of the supply chain disruption is the chip shortage. But as the situation
improves, the market trends and the market will experience change. As the
demand for vehicles increases, so are the passenger vehicles, which is the
major factor for growth. The need for vehicle safety and increasing demand for
engine control units in vehicles is increasing, improving market growth. With
the increase of electric and hybrid cars, the market is also rising. As the
chip is an electronic component, people can face defects, and it can fail as
well, and the system failure can lead to the whole system failure. The increase
in the price of chip-based products is the key challenge for the market.
Automotive Chip Market Key Players
·
STMicroelectronics
·
Infineon Technologies
·
Toshiba Corporation
·
ON Semiconductor
·
Renesas Electronics
·
Robert Bosch GmbH
·
NXP Semiconductors
·
Texas Instruments
Incorporated
·
ROHM Semiconductor
·
Denso Corporation
Automotive Chip Market Segmentation
The Automotive Chip Market size has some major segmentations segmented by product,
application and vehicle type. Based on the Product, the market is segmented
into Analog ICs, Microcontrollers & Microprocessors, and Logic ICs. The
logic ICs held the largest market share in the forecast period and are expected
to grow at the same pace in upcoming years. The Automotive Chip Market is categorised into Body Electronics,
Telematics & Infotainment, Powertrain, Safety systems, and Chassis by the
segment Application.
The chassis component dominates the market with good
market growth during the forecast period. Each segment will have a good market
value in the future. Vehicle Type variables are Passenger cars and Commercial
Vehicles. Passenger cars will hold the largest market share in the forecast
period. Propulsion segment is bifurcated into ICE, BEVs and HEVs. All the
market segment contributes to the growth and will propel the market shortly.
Automotive Chip Regional
analysis
The Automotive
Chip Market is studied in North America, Europe, Asia Pacific and the rest
of the world. The Asia Pacific will dominate the market during the forecast
period and reach a value of 26.05 billion in the future. The increasing demand
for automotive semiconductor devices is enhancing market growth. In 2017, China
was at USD 9,659.5 million; hence, the region propels the market.
Industry news
To Volkswagen, bottlenecks would likely ease towards
the end of this year, and by 2023, production can return to 2019 levels next
year but still not enough to meet heightened demand for the chips.
Automotive Chip Market Segmentation
By Application
·
Telematics
And Infotainment
·
Chassis
·
Powertrain
·
Body
Electronics
·
Safety
System
By Propulsion
·
Be Vs
·
Ice
·
He Vs
By Product
·
Logic I Cs
·
Microcontrollers
And Microprocessors
·
Analog I Cs
·
Memory
By Vehicle Type
·
Commercial
Vehicle
·
Passenger
Car
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