Automotive Semiconductor Market Overview:
During the assessment period from 2022 to 2030,
the worldwide automotive
semiconductors market size is expected to develop
at a healthy rate of about 8.8%. By the end of 2030, the market is expected to
be valued at over USD 85,727.8 million, according to the analysis.
In recent years, automotive semiconductors have
become increasingly popular all around the world. The global trend of growing
vehicle electrification is the main driver of the market's growth. The car
industry relies heavily on semiconductors to provide a range of features like
as head-up displays, cell phone integration, autonomous driving assistance,
improved performance, and more comfort for both drivers and passengers.
The growing complexity and sophistication of these
services have resulted in a heightened demand for automotive semiconductors,
making them a robust long-term growth engine for the industry. Additionally,
the increasing integration of safety features in vehicles is expected to
further drive market growth in the coming years. However, it is essential to
note that the overall slowdown in the automotive industry may pose some
limitations to the market's growth trajectory.
Automotive Semiconductor Market Segment Analysis
The global market for automotive semiconductors
can be segmented into various categories based on application, components,
vehicle types, vehicle propulsion, and geographical region.
Component-wise, the market includes logic
components, sensors, analog integrated circuits (IC), memory devices, discrete
power devices, and processors.
In terms of application, the market covers areas
such as telematics and infotainment, body electronics, powertrain, chassis, and
safety.
Vehicle types are categorized into heavy
commercial vehicles, light commercial vehicles, and passenger cars.
Vehicle propulsion segments the market into
internal combustion engine (ICE) vehicles and electric vehicles (EVs).
Automotive Semiconductor Market Regional
Analysis
The global market for automotive semiconductors is
analyzed across five key geographical regions: Asia-Pacific, Europe, North
America, Latin America, and the Middle East & Africa.
According to research reports from MRFR, the North
American region is expected to maintain a leading position in the global
automotive semiconductors market over the review period. The region boasts
significant growth contributors such as Mexico, Canada, and the United States.
The presence of major market players in the region, including Chevrolet Motor
Company, General Motors, Ford Motor Company, and Toyota Motor Corporation,
plays a crucial role in supporting regional market growth.
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.
The Asia-Pacific region is projected to experience
the highest growth rate in the automotive semiconductors market during the
assessment timeframe. Key growth contributors in this region include Japan,
India, and China. There has been a recent surge in demand for automotive
semiconductors in the region, and foreign organizations are establishing
production facilities and entering joint ventures with local companies, capitalizing
on the availability of a cost-effective labor force. Additionally, government
initiatives in the region are expected to further catalyze market growth.
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