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Automotive Semiconductor Market - Substantial Rise in Industrial Sectors to Offer Growth Prospects by 2030
Automotive Semiconductor Market
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Automotive semiconductors are specially designed components that are used in numerous automotive electronic components and are designated for efficient performance of the associated component. Semiconductors used in automobiles are used to transfer electricity through them so that the semiconductor associated component performs its operations without any failure. In addition, continuous developments carried out by the key players operating in the automotive industry have introduced components related to advanced driver assistance system, telematics and others, creates ample opportunities for the growth of automotive semiconductor market during the forecast period.
Drivers, restraints, and opportunities
Rapid developments in the automotive industry, surge in demand for safety features in automobiles, and intervention of innovative technologies for advanced user interface (UI) drive the growth of the global automotive semiconductor market. However, operational failures in extreme climatic conditions and high initial cost & complex structure hinder the market growth. On the other hand, increase in demand for electric and hybrid vehicles and technological advancements and innovation in advanced driver assistance system (ADAS) technology present new opportunities in the coming years.
Moreover, the key players operating in the global automotive semiconductor market has developed numerous components to be used in automobiles which leads to the growth of their market share in the global market. In addition, continuous developments towards the introduction of semi-autonomous & autonomous vehicles and electric propelled vehicles has also supplemented the growth of automotive semiconductors among vehicles.
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The global automotive semiconductor market has been segmented on the basis of component, vehicle type, propulsion type, application and region. Based on the component, the global market has been segmented into processor, analog IC, discrete power, sensor and memory.
Based on vehicle type, the global automotive semiconductor market has been segmented into passenger car, light commercial vehicle and heavy commercial vehicle. Based on propulsion type, the global automotive semiconductor market has been segmented into internal combustion engine and electric.
Based on application, the global automotive semiconductor market has been segmented into powertrain, safety, body electronics, chassis, telematics & infotainment and others. By region, the global market has been studied across North America, Europe, Asia-Pacific and LAMEA.
Factors such as rapid developments in the automotive industry, rise in demand for safety features in automobiles and intervention of innovative technologies for advanced user interface (UI) drives the growth of the market across the globe. In addition, factors such as operational failures in extreme climatic conditions and high initial cost & complex structure acts as a barrier for the growth of the market across the globe. However, factors such as rise in demand for electric & hybrid vehicles and increase in technological advancement & innovation in ADAS creates ample opportunities for the growth of the market during the forecast period.
The key players analyzed in this automotive semiconductor market report are Analog Devices, Inc., Infineon Technologies AG, Micron Technology, NXP Semiconductors N.V., On Semiconductor Corp., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co., Ltd., STMicroelectronics N.V. and Texas Instruments, Inc.
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