The Global Automotive Semiconductor Market Estimated to Develop at $56.67 Billion by 2028

A recent study by Triton Market Research titled 'Global Automotive Semiconductor Market' includes the Global Analysis and Forecasts by Type of Vehicle (Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs), Passenger Cars), Type of Fuel (Gasoline, Diesel, Electric/Hybrid), Components (Sensors [LED, Position Sensor, Image Sensor, Pressure Sensor, Temperature Sensor, Other Sensor Types], Analog ICs, Processors, Memory Devices [DRAM, Flash], Discrete Power Devices, Lighting Devices), Application (Advanced Driver Assistance Systems, Powertrain, Safety Systems, Body Electronics, Infotainment), and by Geography (North America, Middle East and Africa, Europe, Asia-Pacific, Latin America).

Semiconductor chips are used for various applications, including advanced driver assistance systems, powertrains, safety systems, and smartphones, among others.

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Triton's research report infers that the global automotive semiconductor market is assessed to grow at a CAGR of 6.30% over the phase 2021-2028. It is also calculated to gain revenue worth $56.67 billion by 2028.

Autonomous cars primarily depend on sensors, actuators, processors, and machine learning systems to execute software efficiently. These autonomous features are attained through semiconductor chips that provide vehicles' eyes in the form of cameras and sensors. Hence, the growing demand for connected vehicles and the rising need for autonomous features in cars are significant factors supplementing the growth of the automotive semiconductor market. However, the high cost of automotive, strict regulations, and shortage of semiconductor chips are hampering the overall market's growth.

The automotive semiconductor market is divided into type of vehicle, type of fuel, components, and application. Based on the type of vehicle, it is segmented into light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and passenger cars. The type of fuel segment is categorized into gasoline, diesel, and electric/hybrid. Further, the components section is broadly subdivided into sensors, memory devices, discrete power devices, lighting devices. Here, the sensors section comprises an LED, position sensor, image sensor, pressure sensor, temperature sensor, and other sensor types. Similarly, the memory devices segment is bifurcated into DRAM and flash. Lastly, in terms of application, the market is divided into advanced driver assistance systems, powertrain, safety systems, body electronics, and infotainment.

Globally, the Asia-Pacific is leading in the automotive semiconductor market. The market's robust growth is mainly owing to governmental support, along with the rising R&D spending across China, Japan, South Korea, and Taiwan. Moreover, estimates suggest that the region hosts the biggest market for semiconductors, accounting for a significant share of global semiconductor sales.

Thus, as mentioned above, all these factors are responsible for the robust growth of the automotive semiconductor market across the APAC region.

Rohm Co Ltd, Texas Instruments Incorporated, Qualcomm Technologies Inc, STMicroelectronics NV, Microchip Technology Incorporated, Intel Corporation, ON Semiconductor Corporation, Toshiba Corporation, Micron Technology Inc, Infineon Technologies AG, Robert Bosch GmbH, NXP Semiconductors NV, Renesas Electronics Corporation, Samsung Electronics Co Ltd, and Analog Devices Inc are well-known companies in the automotive semiconductor market.

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Question & Answer: Automotive Semiconductor Market

Question 1: What significant factors are supplementing the growth of the automotive semiconductor market?
Answer: Autonomous cars primarily depend on sensors, actuators, processors, and machine learning systems to execute software efficiently. These autonomous features are attained through semiconductor chips that provide vehicles' eyes in the form of cameras and sensors. Hence, the growing demand for connector vehicles and the rising need for autonomous features in cars are significant factors supplementing the growth of the automotive semiconductor market.

Question 2: What factors are hampering the overall automotive semiconductor market's growth?
Answer: The high cost of automotive, strict regulations, and shortage of semiconductor chips are hampering the overall market's growth.

Question 3: Which region is leading in the automotive semiconductor market?
Answer: Globally, the Asia-Pacific is leading in the automotive semiconductor market. The market's robust growth is mainly owing to governmental support, along with the rising R&D spending across China, Japan, South Korea, and Taiwan. Moreover, estimates suggest that the region hosts the biggest market for semiconductors, accounting for a significant share of global semiconductor sales.

Thus, as mentioned above, all these factors are responsible for the robust growth of the automotive semiconductor market across the APAC region.

Question 4: Which are the well-known companies in the automotive semiconductor market?
Answer: Rohm Co Ltd, Texas Instruments Incorporated, Qualcomm Technologies Inc, STMicroelectronics NV, Microchip Technology Incorporated, Intel Corporation, ON Semiconductor Corporation, Toshiba Corporation, Micron Technology Inc, Infineon Technologies AG, Robert Bosch GmbH, NXP Semiconductors NV, Renesas Electronics Corporation, Samsung Electronics Co Ltd, and Analog Devices Inc are well-known companies in the automotive semiconductor market.

Related Report:
Global Advanced Driver Assistance Systems (ADAS) Market - https://www.tritonmarketresearch.com/reports/advanced-driver-assistance-system-market#report-overview

The global advanced driver assistance systems market is likely to extend at a CAGR of 19.46% and 21.66% based on revenue and volume, respectively, through the period of 2019-2027.

Advanced driver assistance systems are efficient and advanced technologies that offer autonomy to vehicles. These systems include sub-systems and features that operate independently or are combined to provide high assistance.

Factors such as growing vehicular products, an increasing number of automobile thefts, growth in the adoption of safety standards in new vehicles, and stringent crash test regulations by the government are supporting the studied market's progress.

Additionally, the surge in ADAS adoption in low-cost cars and growing concerns pertaining to passenger safety are opening new avenues for the global ADAS market.

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