Automotive Semiconductor Market 2024-2032 | Size, Share and Trends

Automotive Semiconductor Market Overview

The automotive semiconductor market size will grow at an 8.6% CAGR in the forecast period (2022 - 2030), states the latest Market Research Future (MRFR) report.

The automotive semiconductor market is at the forefront of technological advancements, playing a pivotal role in the evolution of modern vehicles. As automobiles become increasingly sophisticated with features like advanced driver assistance systems (ADAS), infotainment, and electrification, the demand for semiconductors in the automotive sector has skyrocketed. These semiconductor components are essential for powering sensors, control units, and communication systems, enabling vehicles to achieve higher levels of automation, safety, and connectivity. The rise of electric vehicles (EVs) further intensifies the demand, as semiconductors are crucial for the development of electric powertrains, battery management systems, and other critical EV components.

Despite the robust growth, the automotive semiconductor market faces challenges such as supply chain disruptions, particularly highlighted by the global semiconductor shortage. This shortage has underscored the industry's vulnerability to external factors and prompted increased efforts to diversify supply chains. As automotive technology continues to advance, with the advent of autonomous vehicles and connected car technologies, the automotive semiconductor market is poised for sustained growth. Manufacturers are investing in research and development to enhance the performance, efficiency, and reliability of semiconductors, ensuring they meet the stringent requirements of the automotive industry and contribute to the ongoing revolution in transportation.

Get Free Sample PDF Brochure@ https://www.marketresearchfuture.com/sample_request/10444

Automotive Semiconductor Market Key Players

Key Players
NXP Semiconductor NV

Infineon Technologies AG

Renesas Electronics Corporation

STMicroelectronics N.V.

Toshiba Corporation

Texas Instrument Inc.

Robert Bosch GmbH

Micron Technology

ON Semiconductor Corporation

Analog Devices Inc

Market Trends:

The automotive semiconductor market is witnessing significant trends that are reshaping the industry landscape. One prominent trend is the surge in demand for electric vehicles (EVs) and autonomous driving technology, driving the need for advanced semiconductor solutions capable of handling complex computing tasks. Additionally, the push towards connectivity and infotainment systems in modern vehicles is fueling the demand for semiconductor components tailored for enhanced communication and entertainment features.

Market Segment Insights:

The automotive semiconductor market can be segmented based on the type of component, application, vehicle type, and region. In terms of components, microcontrollers, sensors, memory devices, and integrated circuits are among the key segments driving market growth. Application-wise, powertrain, safety systems, advanced driver assistance systems (ADAS), and infotainment systems represent major segments. Moreover, passenger cars, commercial vehicles, and electric vehicles form distinct vehicle-type segments, each with unique semiconductor requirements.

Buy Now Premium Research Report: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=10444

Key Market Players & Competitive Insights:

Several key players dominate the automotive semiconductor market, including industry giants such as Intel Corporation, Infineon Technologies AG, Texas Instruments Incorporated, and NXP Semiconductors N.V. These companies engage in strategic initiatives such as mergers, acquisitions, and partnerships to enhance their product portfolios and maintain a competitive edge. Moreover, technological innovation and product differentiation are crucial strategies adopted by market leaders to capture a larger market share.

Industry Developments:

The automotive semiconductor industry is witnessing rapid technological advancements and strategic collaborations aimed at addressing the evolving demands of the automotive sector. Collaborations between semiconductor manufacturers and automotive OEMs are becoming increasingly prevalent to develop customized solutions catering to specific vehicle requirements. Furthermore, investments in research and development are driving the emergence of novel semiconductor technologies optimized for automotive applications, including AI-enabled chips for autonomous driving and energy-efficient power management solutions for electric vehicles.

Market Segmentation:

Segmentation of the automotive semiconductor market is vital for understanding the diverse needs of various stakeholders. By segmenting the market based on components, applications, vehicle types, and regions, industry players can tailor their strategies to target specific market segments effectively. This approach enables semiconductor manufacturers to align their product offerings with the evolving requirements of automotive OEMs, thereby enhancing competitiveness and driving sustained growth in the market.

Browse In-depth Market Research Report on Ride Sharing Market: https://www.marketresearchfuture.com/reports/automotive-semiconductor-market-10444

Drivers

Growing Adoption of Electric Vehicles to Boost Market Growth

The growing adoption of eco-friendly alternative fuel vehicles like hybrid electric vehicles will boost market growth over the forecast period. According to the (ICCT), global EV production crossed over 2 million per year in 2018 and sold more than 80,000 EVs per year.

Additional factors adding to the automotive semiconductor market value include the growing production of automotive, increasing application of automotive semiconductors in active safety and autonomous driving, in-vehicle networking and connectivity, LED lighting, fuel economy and emissions reduction, vehicle electrification, and powertrain, interiors, and body, and development of connected cars with advanced electronics.

Opportunities

Policies Imposing Perilous Safety Arrangements in Cars to offer Lucrative Opportunities

Various policies imposing greater perilous safety arrangements in cars like agile automotive proposals, airbags, and lane departure warning for more efficacy, communication systems, and directives for efficient route-finding will offer lucrative opportunities for the market over the forecast period.

Restraints

Rising Cost of Overall Vehicle to act as Market Restraint

The rising cost of overall vehicle and maintenance between quality and cost of product may act as market restraint over the forecast period.

Market Segmentation

The global automotive semiconductor market is segmented based on vehicle type, application, and component.

By component, the integrated circuits segment will lead the market over the forecast period at a high CAGR.

By application, the power electronics segment will dominate the market over the forecast period and at a significant CAGR.

By vehicle type, passenger cars will spearhead the market over the forecast period at a healthy CAGR for the high demand for passenger cars across the world. Improved disposable income and rising middle-class population have boosted the need for passenger cars in Malaysia, Indonesia, Thailand, India, and China among others.

Automotive Semiconductor Market Regional Analysis

APAC to Steer Automotive Semiconductor Market

The APAC region will steer the market over the forecast period. The region being a major automotive hub with the market share in terms of vehicle production and sales, growing Chinese automotive market, the market has evolved into the largest producer of vehicles, the region being the largest consumer of automotive semiconductor across the globe, increasing growth of automotive industry in China, Japan, and India, and the presence of leading semiconductor manufacturers in the region are adding to the global automotive semiconductor market share in the region.

Besides, limited adoptability of sophisticated automobiles, key vendors dealing in the market, growing adoption of electric vehicles, growing automotive manufacturing, and collaborations between automotive OEMs and semiconductor manufacturers are also adding market growth. As per India's NITI Aayog report, more than 7.35 million electric vehicles had been extended in 2020 and likely to develop 26.52 million by 2030. Toshiba for instance offers different automotive semiconductor devices such as the image recognition processor that is designed to develop driving security. The company offers leading-edge semiconductor technologies from a future point of view to offer comprehensive driver assistance solutions which imitate human eyes and other forms of complicated human senses.

Read more:

3D Printing in Automotive Market, https://www.globenewswire.com/news-release/2023/06/15/2688645/0/en/3D-Printing-in-Automotive-Market-Projected-to-Reach-USD-9-7-Billion-at-a-15-94-CAGR-Report-by-Market-Research-Future-MRFR.html

E Bikes Market, https://www.globenewswire.com/news-release/2023/06/14/2688287/0/en/E-Bikes-Market-Projected-to-Expand-USD-84-26-billion-at-a-CAGR-of-7-89-from-2023-to-2030-Report-by-Market-Research-Future-MRFR.html

Truck Axle Market, https://www.globenewswire.com/news-release/2023/06/15/2688656/0/en/Truck-Axle-Market-Projected-to-Reach-USD-2-5-Billion-at-a-5-20-CAGR-by-2032-Report-by-Market-Research-Future-MRFR.html

About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com

This release was published on openPR.