Automotive Semiconductor Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports

Automotive Semiconductor Market Statistics 2028
The global Automotive Semiconductor market size is projected to reach US$ 42140 million by 2028, from US$ 31430 million in 2021, at a CAGR of 3.8% during 2022-2028.

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Fully considering the economic change by this health crisis, Processor accounting for % of the Automotive Semiconductor global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Passenger segment is altered to an % CAGR throughout this forecast period.
Key drivers of the Automotive semiconductor market include increasing vehicle production, expanding vehicle electrification, and growing need for safety and security systems in automobiles. Further, there is an increase in the number of automotive users leading to more production of vehicles ultimately surging the demand for semiconductor production. Other factors contributing to the growth of the Automotive Semiconductor market include the introduction of the Advanced Driver Assistance Systems(ADAS), growing electronic components in automotive vehicle production, increase in technological advancements, and rise in demand for electric and hybrid vehicles. Semiconductors are special electrical components that possess the capability to transfer electricity through them under specific conditions. Semiconductors ensure that all the components of vehicles work efficiently, help enhance the security systems and regulate the air conditioning system of the vehicle.
Automotive Semiconductor market Segments
Based on region, Asia-pacific is expected to hold the largest Automotive semiconductor market share during the forecast period due to rising automobile manufacturing, growing strategic partnerships between automobile manufacturers and semiconductor companies, increasing demand for electric and hybrid vehicles, and rise in production of self-driving or fully autonomous cars.
Based on application, the passenger vehicle segment is expected to provide lucrative opportunities for growth in the Automotive semiconductor market share during the forecast period due to the widescale adoption of greener technologies in taxis and passenger vehicles, rise in on-demand mobility passenger vehicles and increase in usage of electric vehicles in public transportation systems.

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Automotive Semiconductor Market by Type
• Processor
• Analog IC
• Discrete Power
• Sensor
• Memory
Automotive Semiconductor Market by Application
• Passenger
• LCV
• HCV
Major Players in the Automotive Semiconductor Industry
• NXP Semiconductors
• Renesas Electronics
• Infineon Technologies
• STMicroelectronics
• Robert Bosch GmbH
• Texas Instruments
• ON Semiconductor
• ROHM
• Toshiba
• Analog Devices

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