Automotive Chip Industry to Generate $121.3 Billion, Globally, by 2031 at 9.6% Compound Annual Growth Rate

𝐀𝐥𝐥𝐢𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐚 𝐫𝐞𝐩𝐨𝐫𝐭, titled, "Automotive Chip Market by Component (processor, analog IC, discrete power, sensor, memory, others), by Vehicle type (passenger car, light commercial vehicle, heavy commercial vehicle), by Application (powertrain, body electronics, safety systems, chassis, telematics & infotainment systems), by Propulsion Type (ICE vehicles, electric vehicles): Global Opportunity Analysis and Industry Forecast, 2021-2031." 𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐜𝐡𝐢𝐩 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐞𝐝 $𝟒𝟗.𝟖 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏 𝐚𝐧𝐝 𝐢𝐬 𝐚𝐧𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞𝐝 𝐭𝐨 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐞 $𝟏𝟐𝟏.𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐰𝐢𝐭𝐧𝐞𝐬𝐬𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟗.𝟔% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐.

👉𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/11775

The automotive chip market refers to the semiconductor chips that are specifically designed for use in vehicles. These chips are made up of material, such as germanium or silicon, that exhibits electrical conductivity characteristics falling between those of conductors (like metals) and insulators. Its conductivity is close to that of metals at high temperatures and nearly non-existent at low temperatures. This property makes semiconductors and chips crucial in automotive electronic devices and technology. In vehicles, chip are used in multiple important functions such as power management, safety features, vehicle control, displays, and sensing in modern technologically advanced automobiles. More semiconductors are being used in electric and hybrid vehicles (EVs).

The global automotive chip market is driven by factors such as an increase in demand for advanced driving assistance systems (ADAS), a rise in demand for electric vehicles, and a surge in demand for autonomous driving. However, the complexity of design and high manufacturing costs are hampering the automotive chip market growth. On the contrary, increased focus on cyber security, and an increase in demand for connected cars are expected to offer remunerative opportunities for expansion of the automotive chip market during the forecast period.

In addition, the increase in demand for advanced driving assistance system (ADAS), surge in demand for electric vehicles, and rise in demand for autonomous driving accelerate the growth of the market. However, complexity of design and high manufacturing costs hamper the growth of the automotive chip market. Conversely, increased focus on cybersecurity, and increase in demand for connected car are expected to provide lucrative opportunities for the expansion of the global market of automotive chip.

👉𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/automotive-chip-market/purchase-options

𝐓𝐡𝐞 𝐦𝐢𝐜𝐫𝐨𝐜𝐨𝐧𝐭𝐫𝐨𝐥𝐥𝐞𝐫𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on product, the microcontrollers segment held the highest market share in 2021, accounting for more than one-fourth of the global automotive chip market revenue, and is expected to maintain its leadership status throughout the forecast period. Due to the increase in demand for electric and autonomous vehicles, which require more advanced sensor technologies for functions such as battery management and perception systems is another factor driving the growth of sensor chips in the automotive chip market. However, the sensor segment is projected to manifest the highest CAGR of 11.3% from 2022 to 2031. This is due to the surge in awareness of environmental issues is driving the demand for sensor chips in the automotive chip industry.

𝐓𝐡𝐞 𝐬𝐚𝐟𝐞𝐭𝐲 𝐬𝐲𝐬𝐭𝐞𝐦𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝-

Based on application, the safety systems segment held the highest market share in 2021, accounting for more than one-fourth of the global automotive chip market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment would also display the fastest CAGR of 10.5% during the forecast period. Safety systems manufacturers are utilizing advanced semiconductor technologies such as radar, LIDAR, and image sensors, as well as high-performance microcontrollers and processors to meet the stringent safety requirements of the automotive chip industry.

𝐓𝐡𝐞 𝐈𝐂𝐄 𝐯𝐞𝐡𝐢𝐜𝐥𝐞𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝-

Based on propulsion type, the ICE vehicles segment accounted for the largest share in 2021, contributing to around four-fifths of the global automotive chip market revenue, and is projected to maintain the lead position during the forecast period. owing to the rise in awareness of zero emission and carbon neutrality, and the implementation of these objective in the vehicle regulation around the globe. Moreover, the electric vehicles segment is projected to manifest the highest CAGR of 16.3% from 2022 to 2031. This is owing to a rise in the government's incentives and subsidies to encourage the adoption of EVs as a part of their efforts to reduce carbon emissions and combat climate change.

𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏-

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly one-third of the global automotive chip market revenue. Due to rise in the adoption of advanced driver assistance systems (ADAS) and electric vehicles. On the other hand, the Asia-Pacific region is projected to maintain its dominance during the forecast period. The same region would also portray the highest CAGR of 11.4% from 2022 to 2031, This is due to the increase in demand for electric and autonomous vehicles, as well as the developments in the automotive industry in this region.

According to Bloomberg, the electrical vehicle market is expected to grow by 35%, by 2040. These increasing numbers of EVs across globe encouraged the chip manufacture invest in semiconductor foundry to fulfil further demand from EVs. For instance, in April 2023, Germany based Bosch Group acquired crucial assets from California-based chip manufacturer TSI Semiconductors Thus, it is major driver for chip manufacturers to grow globally, as chip are integral part of electric vehicles. Thus, surge in demand of electric and hybrid vehicles coupled with investment from chip suppliers propel the automotive chip market.

👉𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/11775

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
🔺Analog Devices, Inc.,
🔺Infineon Technologies AG,
🔺NVIDIA Corporation,
🔺NXP Semiconductors,
🔺Renesas Electronics Corporation,
🔺Robert Bosch GmbH,
🔺ROHM CO., LTD,
🔺STMICRO Electronics,
🔺Texas Instruments Incorporated,
🔺TOSHIBA CORPORATION.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐈𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:-

https://www.alliedmarketresearch.com/semiconductor-in-military-and-aerospace-market-A47381 - Semiconductor in Military and Aerospace Market : Global Opportunity Analysis and Industry Forecast, 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟏

https://www.alliedmarketresearch.com/automotive-semiconductor-market-A14477 - Automotive Semiconductor Market : Global Opportunity Analysis and Industry Forecast, 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟐

https://www.alliedmarketresearch.com/military-embedded-system-market-A09055 - Military Embedded System Market : Global Opportunity Analysis and Industry Forecast, 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟏

https://www.alliedmarketresearch.com/embedded-systems-in-automobiles-market-A12177 - Embedded Systems in Automobiles Market : Global Opportunity Analysis and Industry Forecast, 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟐

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