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Automotive Semiconductor Market 2019-2023 Forecast Analysis: Key Major Players are Texas Instruments, Infineon Technologies, NXP Semiconductors & Renesas Electronics
2019-2023 Global Automotive Semiconductor Market Trends Survey and Prospects Report
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Semiconductors are used by various end-user markets such as – IT, Communication, Consumer Electronics, Automotive and Industrial. Automotive semiconductors enhance the operational functions of vehicles. This includes micro-components, analog devices, optical sensors and memory system. Automotive semiconductors can be split into several segments based on their applications: Body, Driver Info, Safety System, Powertrain and Chassis.
Given today’s rapid technological innovation, the global semiconductor industry can look forward to rapid growth. The global semiconductor market is expected to have upsurge, owing to growing demand for high efficiency and power semiconductors for computer, communication and automotive applications.
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The global automotive semiconductor market is growing vastly in order to provide specifically for comfort, safety and body features in a vehicle. Factors that have driven the growth of the global semiconductor market include increasing car production, growing electric vehicle market stock, growing demand for advanced vehicle safety and comfort systems, rising market penetration for hybrid cars and continuous partnership of semiconductor manufacturers with automotive OEMs.
Europe held a major share in the global automotive semiconductor market, accredited to the strong demand for automotive integrated circuits to build a sophisticated navigational, safety, and communication systems in automobiles. The Americas and China also held significant share in the global automotive semiconductor market.
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