Automotive Semiconductor Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2026)

Global Automotive Semiconductor Market Size, Status And Forecast 2021-2026

MarketInsightsReports, a leading global market research firm, is pleased to announce its new report on Automotive Semiconductor market, forecast for 2021-2026, covering all aspects of the market and providing up-to-date data on current trends.

The global automotive semiconductor market was valued at USD 48.13 billion in 2020 and is expected to reach a value of USD 129.17 billion by 2026 and grow at a CAGR of 17.94% over the forecast period (2021-2026). With the increasing vehicle production across the globe, many vehicles are incorporating vehicle electrical systems that require power diodes and voltage regulators of exceptional reliability. According to OICA, 92 million cars are produced in 2019 across the world.?

- The industry has also witnessed improvements in 3D mapping applications, EV batteries, and augmented-reality technologies, such as head-up displays. Moreover, 5G networks are enabling the next generation of mobility solutions in the sector. ADAS (Advanced Driver Assistance Systems) sales are expected to flourish in the future owing to rising demand for safety features, designed to avoid collisions and accidents by offering technologies that alert the driver about potential problems.

(Special Offer: Available Flat 30% Discount for a limited time only):
Get a Free Sample Copy of the Report:
https://www.marketinsightsreports.com/reports/05202905553/automotive-semiconductor-market-growth-trends-covid-19-impact-and-forecasts-2021-2026/inquiry?mode=54

Competitive Landscape

The market is highly competitive and consists of several major players, such as STMicroelectronics, NXP Semiconductor NV, etc. The competitive environment requires technological upgrades and significant capital requirements and investment in research and development for scalability.

- In April 2020, NXP Semiconductors announced the availability of a comprehensive Wi-Fi 6 (802.11ax) portfolio, which significantly expands the number of products and markets able to adopt the latest Wi-Fi standards. NXPs expanded Wi-Fi 6 portfolio represents the companys new end-to-end vision and differentiated technology approach that is designed to help usher in an era of connectivity innovation for automotive, access, mobile and Industrial and IoT markets.

- In March 2020, STMicroelectronics launched its first STM32L5 microcontroller with ultra-low power consumption and data security for IoT. The STM32L5 series MCU has a clock frequency of up to 110MHz and is based on the Arm Cortex-M33 32-bit RISC processor core with built-in Arm Trust Zone hardware security technology.

Avail Discount at:

https://www.marketinsightsreports.com/reports/05202905553/automotive-semiconductor-market-growth-trends-covid-19-impact-and-forecasts-2021-2026/discount?mode=54

Rising Demand for Advanced Safety and Comfort Systems to Influence the Growth of the Market
- Owing to rising demand for safety features designed to avoid collisions and accidents by offered technologies that alert the driver to potential problems and to avoid collisions by implementing safeguards and taking over control of the vehicle, ADAS (Advanced Driver Assistance Systems) sales are expected to flourish in the future. Semiconductors find their application in ADAS to enhance its functionality.
- Higher volumes of data are driving the adoption of 64-bit processors for automotive ADAS applications. The shift from a distributed architecture to a more centralized ECU is more prevalent. Since the ECUs are integrated, the ADAS SoCs (System on Chips) is becoming very complicated, thereby requiring the innovative semiconductor features and semiconductor process technologies.
- Moreover, the growth in the automotive industry, coupled with the developing features in the luxury sector, has led to a rise in the number of sensors being integrated into the automobiles to provide more advanced services to the consumers and thus now the companies need to comply with the safety regulations even more as compared to earlier.
- The most significant and conventional applications are power train and HVAC systems, followed by body electronics and alternative fuel. Increasing demand from customers for automatic control of operations and information regarding a vehicle's status has led to increased emphasis on maintaining safety. Similarly, government support for the utilization of alternative fuels has led to an increase in the demand for the automotive semiconductor market in the forecasted period.
- Continued strong growth in demand for driver assistance systems is ensuring that more semiconductors with more functions are finding their way into cars. Chips with built-in 'intelligence,' known as ASICs, are tailored to a particular application. For instance, they were signaling the airbags in a vehicle when they should deploy. These chips control handling to ensure a consistently safe journey. Bosch launched the SMA7xy MEMS sensor, which focusses on faster airbag deployment.

Asia-Pacific to Witness Highest Growth Rate
- Faster GDP growth and the highly aspirational Asian consumers have been the two main growth drivers for most of the emerging markets, including China, India, Malaysia, and the other developing markets in Southeast Asia. In China, for example, a rising middle class is expected to continue driving the steady growth of the Chinese auto market, with the market for new purchases and replacement of vehicles increasing. These factors are spurring the demand for automobiles in the region, consequently driving the market for automotive semiconductors.?
- The growth of the electric vehicle market in the region is associated majorly with the production of the electric motors for automotive applications in countries like India and China. According to the CAAM, in 2019, The People's Republic of China remained the world's largest electric car market, followed by Europe and the United States. In 2019, around 972,000 battery electric vehicles were sold, and 232,000 plug-in hybrid electric vehicles were sold in China. The Indian electric vehicle market will, however, eventually catch upto China due to the growing local economy, which is partly driven by the national economic transformation program called "Make in India. The ever increasing government regulations in favor of the electric vehicles market globally is also a significant factor for market growth over the forecast period. For instance, in India, according to the NITI Aayog projected umber of two-wheeler electric vehicles in 2020 was 7.35 million, which is expected to grow to 26.52 million in 2030.
- Due to trade war among the USA and China, the US government is planning to increase tariffs up to 25% on vehicles and car parts imported from China. China is the second biggest exporter of components to the United States, after Mexico. The United States is one of the largest auto markets in the world, and such tariffs will likely affect the automotive sector. As per the World Trade Organization, the conflict between these countries will directly affect 3% of the global trade and 8% of the automotive industry. Such situations are expected to have an impact on the automotive semiconductor market in the region.

Browse the report description and TOC: https://www.marketinsightsreports.com/reports/05202905553/automotive-semiconductor-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?mod=54

What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluates key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Automotive Semiconductor Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

Contact Us:

IrfanTamboli (Head of Sales) - Market Insights Reports

Phone: + 1704 266 3234 | +91-750-707-8687

sales@marketinsightsreports.com | irfan@marketinsightsreports.com

About Us:

MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc.MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.