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Global Automotive Semiconductors Market to Benefit from Rising Demand for Telematics and Infotainment Products in Passenger Cars
A detailed market research report featuring a comprehensive overview of the global automotive semiconductors market has been recently added to the vast research report portfolio of MarketResearchReports.biz. The report is titled “Automotive Semiconductors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.”
According to the report, the global automotive semiconductor market benefits chiefly from the vast rise in safety and emission regulations pertaining to the automotive industry in the past few years. The steadily rising numbers of electronic devices, such as blind spot detection cameras and sensors, anti-lock braking systems, adaptive cruise control systems, infotainment systems, and electronic stability control systems, becoming a norm in vehicles of all kinds are also necessitating the development of more reliable and powerful automotive semiconductors. These factors are expected to remain the leading growth drivers of the global automotive semiconductor market over the next few years as well.
Other factors expected to work in favor of the market include the vast rise in sales of passenger vehicles in emerging economies across regions such as Asia Pacific and Latin America and the rising numbers of vehicle manufacturing units in these regions. A steady rise in stringent emission control norms in these regions has also necessitated the integration of complex and technologically advanced electronic devices in present-day vehicles.
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The report segments the market on the basis of criteria such as vehicle type, application, component, and geography. Based on vehicle type, the market has been segmented into heavy commercial vehicle, light commercial vehicle, passenger car, and hybrid vehicles. The segment of passenger cars is further segmented into sport utility vehicle, sedan, and sub-compact vehicle.
Based on component, the market has been examined for products such as analog ICs, processors, discrete power, sensors, and memory. Key applications of semiconductors in automobiles include telematics and infotainment, powertrain, and safety. Of the key applications of semiconductors in automobiles, the segment of telematics and infotainment is the leading revenue contributor to the global market and is likely to remain a lucrative segment over the forecast period as well.
From a geographical standpoint, the report covers the automotive semiconductors market for regions such as Europe, North America, Middle East and Africa, Asia Pacific, and Latin America. Of these, the market in Asia Pacific is presently the leading contributor of revenue to the global market and is expected to dominate the global market over the forecast period as well. The promising growth prospects of the region can be attributed to the rapid pace of technological developments in the region and increased awareness regarding vehicle safety, and the need to adopt vehicles with low emission levels and low fuel consumption.
Some of the leading companies operating in the market are NXP Semiconductors N.V., Texas Instruments Inc., Infineon Technologies, Robert Bosch GmbH, Toshiba Corporation, and ON Semiconductor Corp.
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