The “Automotive Semiconductor Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Automotive Semiconductor Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global automotive semiconductor market size was US$ 40.1 billion in 2021. The global automotive semiconductor market is forecast to grow to US$ 68.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The growing urban population and rising need for luxury products will drive the growth of the automotive semiconductor market. In addition, the emergence of new technology will contribute to the growth of the automotive semiconductor market.
The growing number of stringent regulations intending to surge the adoption of sustainable policies will contribute to the growth of the market. Furthermore, growing digitization across the entire automotive industry will escalate the growth of the global automotive semiconductor market.
The surging development of electric and hybrid vehicles and the increasing number of improvements will benefit the global automotive semiconductor market. On the contrary, the rising risks of cyber-attacks may limit the growth of the market.
The growing number of innovative strategies by industry players will accelerate the market growth. For instance, Infineon Technologies AG launched its new high-tech chip factory in Austria in September 2021. Furthermore, ON Semiconductor unveiled its silicon carbide MOSFET module in June 2021, which is specifically designed for electric vehicles. Such advancements are likely to benefit the global automotive semiconductor market.
COVID-19 Impact Analysis
The COVID-19 pandemic has been an unfavorable situation for the entire automotive industry. Due to the pandemic, the demand for luxury products like cars declined drastically. In addition, various automotive manufacturers registered a significant drop in terms of revenue, which clearly depicts the negative impact of the pandemic. Furthermore, manufacturing units also closed their operations in order to curb the virus spread and abide by the regulations by the government bodies. Thus, it ultimately affected the global automotive semiconductor market.
Regional Analysis
The global automotive semiconductor market is forecast to witness ample growth opportunities in North America and Asia-Pacific. The growing demand for efficient automobiles and increasing disposable income will surge the growth of the North America market. Furthermore, Asia-Pacific accounts for one of the largest automotive industries globally. As a result, it will also benefit the automotive semiconductor market.
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Competitors in the Market
NXP Semiconductors
Infineon Technologies
Renesas Electronics
Renesas Electronics
Texas Instruments
Stmicro Electronics
Bosch
Melexis
Allegro Micro System
Microchip Technology
On Semiconductor
Rohm Semiconductor
Analog Devices
Delphi Technologies
Pansonic
Toshiba
Other Prominent Players
Market Segmentation
The global automotive semiconductor market segmentation focuses on Product, Application, Vehicle, and Region.
By Product Outlook
Processor
Analogic
Sensor
Discrete power
Memory
By Application Outlook
Body electronics
Telematics
Powertrain
Safety
Chassis
By Vehicle Outlook
Passenger Cars
Light commercial vehicles
Heavy commercial vehicles
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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