Automotive Semiconductor Market Share, Size, Top Companies, Trends, Growth Factors for New Business Opportunities and Investment by 2027

In an era of global warming, the automotive industry has had more than its fair share of negative press. The industry has made sustainable mobility a top-most priority in the 21st century. A compelling solution is electric vehicles (EVs), that necessitate electronic components such as automotive semiconductors.

Global Regulation Norms Dictate Direction of the Automotive Semiconductor Market

A preference for EVs and adoption of the technology in internal combustion engine (ICE) vehicles is responsible for the growth witnessed in the automotive semiconductor market. Government norms such as Euro 6, CAFÉ, and the Clean Air Act should hasten the shift away from ICE vehicles. Semiconductors play a vital role in making vehicles more fuel-efficient. Increasing personal mobility in emerging economies has led to an increase in car crash mortality rates, raising safety concerns. This has contributed to advanced driver assist systems (ADAS) gaining popularity. Automotive semiconductors have become the focal point as they help carmakers differentiate themselves in a cutthroat market by enhancing vehicle efficiency, performance, and safety.

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Huge Demand for Consumer Electronics Reduced Supply for Automotive Semiconductors

The COVID-19 pandemic led to a domino-like effect in the automotive industry and global supply chains ground to a halt. Consumers have paused purchases of vehicles due to long-term economic uncertainty and job losses. Automakers have had a resultant shortage of funds and are unable to invest in R&D. The transport bans and lockdowns led to a collapse of the Just in Time strategy, resulting in idling or temporary plant closures. Work from home directives meant that purchases of consumer electronic devices skyrocketed - all of which require semiconductors. These factors lead to longer lead times, posing major challenges for growth in the automotive semiconductor market.

US- China Trade War Had Cascading Effect on Prices of Automotive Semiconductors

China, Japan, and Korea have a virtual monopoly on the manufacture of automotive semiconductors. Rising EV penetration because of favourable government policy along with consumer preference for 'greener options' ensures a bright future for all stakeholders in the APAC automotive semiconductor market. The US- China trade war has led to tariff fluctuations and has raised the cost of imported components in western markets by double-digits. The trade war is anticipated to be a lose-lose situation for emerging and developed economies and will negatively impact the automotive semiconductor market.

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Huge Investments Underway in Electric and Hybrid Technology in Automotive Industry

Automakers have invested billions of dollars in automotive semiconductor technology to aid electrification efforts. Advanced driver assist features require automotive semiconductors in passenger cars. Electric and hybrid drivetrains should witness greater incorporation of electronic circuits during the assessment period. Both electric and hybrid electric vehicles have automotive semiconductors as a core technology, propelling demand in the EV segment of the automotive semiconductor market.
The automotive semiconductor market is characterized by intense competition amongst the companies involved. Technology companies are seeking alliances with automakers, universities, and even researchers to up the pace of innovation.

A few companies in the automotive semiconductor market are :
1. Intel Corporation
2. ASE Technology Holding Co. Ltd. (ASX)
3. NXP Semiconductors
4. Samsung Semiconductors
5. NVIDIA Corporation
6. Broadcom Inc. (AVGO)
7. Texas Instruments Inc. (TXN)
8. Taiwan Semiconductor Manufacturing Co. Ltd. (TSM)
9. Analog Devices Inc.
10. Toshiba Corporation
11. Infineon Technologies AG
12. Renesas Electronics Corporation
13. Robert Bosch GmbH
14. Qualcomm Inc. (QCOM)
15. Micron Technology Inc.

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