Automotive Chip Market 2024 Research Report

Automotive Chip Market

The Global Automotive Chip Market is expected to experience a significant growth rate of 9.6% from 2022-2031 owing to rising demand for advanced driving assistance systems-
An electronic component made specifically for use in automobiles is known as an automotive chip. It is a semiconductor chip used in a variety of automotive applications, including advanced driver assistance systems (ADAS), gearbox control, infotainment systems, and engine management. It is employed to regulate and keep track of several vehicular operations, including braking, steering, and engine performance. Additionally, it is utilized to improve the driving experience by offering amenities like Bluetooth connectivity, GPS navigation, and music streaming. These chips are critical for the functioning of modern vehicles, as they enable the transmission and processing of data between various systems and components. The global automotive chip market is a rapidly growing sector that has seen significant growth due to advancements in technology and changes in consumer preferences. These chips are typically designed to withstand the harsh operating conditions in a vehicle, such as high temperatures, vibration, and electromagnetic interference.

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Report Scope
The automotive chip market is being driven by several factors, including advances in technology, increasing consumer demand for advanced features, and government regulations related to vehicle safety and emissions. One of the major drivers of the automotive chip market is the growing demand for advanced safety features. Consumers are increasingly interested in vehicles that are equipped with features like lane departure warning, adaptive cruise control, and automatic emergency braking. These features rely on a range of sensors and electronic systems, which in turn rely on automotive chips. Another factor driving the growth of the automotive chip market is the increasing complexity of vehicles. Modern cars are equipped with a range of electronic systems, including infotainment systems, navigation systems, and advanced driver assistance systems.

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Segment by Type
● ICE Vehicles
● Electric Vehicles

Segment by Application
● Powertrain
● Body Electronics
● Safety Systems
● Chassis
● Telematics and Infotainment Systems

By Companies
Analog Devices, Inc., Infineon Technologies AG, Nvidia Corporation, NXP Semiconductors, Renesas Electronics Corporation, Robert Bosch GmbH, ROHM CO., LTD, STMICRO Electronics, Texas Instruments Incorporated, and TOSHIBA CORPORATION.

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This release was published on openPR.