Emerging Trends to Drive Automotive Semiconductor Market Growth at 11.6% CAGR Through 2029

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Automotive Semiconductor Market Size Growth Forecast: What to Expect by 2025?
Recent years have seen a significant expansion in the size of the automotive semiconductor market. Predictions indicate a growth from $60.59 billion in 2024 to $66.35 billion in 2025, representing a compound annual growth rate (CAGR) of 9.5%. Factors contributing to this historic growth include increased demand for electric and hybrid vehicles, greater disposable income, and heightened usage of electronic parts within the automotive sector.

How Will the Automotive Semiconductor Market Size Evolve and Grow by 2029?
Anticipated to experience swift expansion in the coming years, the automotive semiconductor market size is forecasted to rise to $102.82 billion in 2029, boasting a compound annual growth rate (CAGR) of 11.6%. The upturn seen within the projected period is due to factors such as the growing allure of self-driving vehicles, increased government involvement in automotive semiconductors, and heightened demand for passenger cars. The era is expected to see major trends including the use of resistive ram (r-ram) technology, innovation in products, technological advancements, strategic collaborations, and the creation of novel products for automotive satellite camera modules.

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What Drivers Are Propelling the Growth of Automotive Semiconductor Market Forward?
The surge in demand for electric and hybrid vehicles is poised to drive the growth of the automotive semiconductor market. Despite the economic upheaval from COVID-19 diminishing the interest in petrol and diesel cars, the appetite for EV and hybrid vehicles has seen a rise. This change can be attributed to increasing climate change concerns and ambitions to reach net-zero emissions, which are pushing the global transition to emissions-free vehicles. The switch to these EV and hybrid vehicles contributes to the economy by lowering fuel expenses and shifting consumption away from petroleum products towards more locally produced power vehicles. For example, as per the International Energy Agency, a France-based intergovernmental organization, the electric car market saw a massive growth spurt with sales exceeding 10 million in 2022, which was reported in March 2023. Electric cars comprised 14% of all new car sales in 2022, demonstrating a considerable leap from around 9% in the previous year, 2021. Therefore, the escalating demand for electric and hybrid vehicles is anticipated to further fuel the need for automotive semiconductors during the predicted period.

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What Are the Key Trends Driving Automotive Semiconductor Market Growth?
There is a growing trend of technological innovation revolutionizing the automotive semiconductor market. Firms in this industry are keen on introducing technologically progressive solutions as a strategy to consolidate their place in the market. The application of next-generation automotive semiconductor technologies in their products includes elements such as artificial intelligence, IoT, algorithmic chips, ICs, transistors, intelligent sensors, and computing. This results in devices and applications that are trustworthy, compact, and inexpensive. For example, in September 2022, SiFive, Inc., a semiconductor company based in the US, unveiled new chip designs for digital control in automobiles, such as the E6-A series, S7-A, and X280-A. Armed with machine learning technology, these chips augment the failsafe capabilities, offering a self-driving experience.

What Are the Key Segments in the Automotive Semiconductor Market?
The automotive semiconductor market covered in this report is segmented -

1) By Component: Processor, Analog IC, Discrete Power, Sensor, Memory, Other Components
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Medium And Heavy Commercial Vehicle
3) By Propulsion Type: Internal Combustion Engine, Electric, Hybrid
4) By Application: Powertrain, Safety, Body Electronics, Chassis, Telematics And Infotainment

Subsegments:
1) By Processor: Microcontrollers, Microprocessors
2) By Analog IC: Voltage Regulators, Operational Amplifiers
3) By Discrete Power: MOSFETs, IGBTs
4) By Sensor: Temperature Sensors, Pressure Sensors, Proximity Sensors
5) By Memory: RAM (Random Access Memory), Flash Memory
6) By Other Components: Communication ICs, Gate Drivers, Interface ICs

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Who Are the Key Players Shaping the Automotive Semiconductor Market's Competitive Landscape?
Major companies operating in the automotive semiconductor market include Infineon Technologies AG, STMicroelectronics N.V, Texas Instruments Inc., Renesas Electronics Corp, NXP Semiconductors N.V, Robert Bosch GmbH, Toshiba Corporation, Micron Technology, Analog Devices Inc., ROHM Co. Ltd., MosChip Semiconductor Technologies, Enkris Semiconductor Inc, Sanan Integrated Circuit, Navitas Semiconductor, Cypress Semiconductor Corp, GigaDevice, CR Micro, Saankhya Labs, ASM Technologies, CDIL, Hyundai Electric, Mitsubishi Electric Corporation, Meidensha, Fuji Electric, Nissin Electric, Shihlin Electric, CHEM, Fortune Electric, Silan, GaN Systems, Exagan, UnitySC, Dialog Semiconductor Plc.

What Geographic Markets Are Powering Growth in the Automotive Semiconductor Market?
Asia-Pacific was the largest region in the automotive semiconductor market in 2024, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive semiconductor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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