The global automotivesemiconductors market is predicted to bolsterconsiderably 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 have gained significant popularity worldwide in
recent years. The primary driver behind the market's growth is the increasing
trend of vehicle electrification on a global scale. Semiconductors integrated
into the automotive industry play a crucial role in providing various features,
including heads-up displays, autonomous driving assistance, cell phone
integration, enhanced performance, and increased comfort for drivers and
passengers.
The growing complexity and sophistication of theseservices 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 semiconductorscan be segmented into various categories based on application, components,
vehicle types, vehicle propulsion, and geographical region.
Component-wise, the market includes logiccomponents, sensors, analog integrated circuits (IC), memory devices, discrete
power devices, and processors.
In terms of application, the market covers areassuch as telematics and infotainment, body electronics, powertrain, chassis, and
safety.
Vehicle types are categorized into heavycommercial vehicles, light commercial vehicles, and passenger cars.
Vehicle propulsion segments the market intointernal combustion engine (ICE) vehicles and electric vehicles (EVs).
Automotive Semiconductor Market Regional Analysis
The global market for automotive semiconductors isanalyzed across five key geographical regions: Asia-Pacific, Europe, North
America, Latin America, and the Middle East & Africa.
According to research reports from MRFR, the NorthAmerican 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 MarketCompetitive Analysis
The global market for automotivesemiconductors is known to have a solid andcompetitive 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 theautomotive semiconductors includes players such as Analog Devices, Toshiba, ON
Semiconductor, Robert Bosch GmbH, Infineon Technologies, NXPSemiconductors, 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 experiencethe 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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