NEWARK, N.J., Feb. 16, 2022 /PRNewswire/ — As per the report published by The Brainy Insights, the global automotive semiconductor market is expected to grow from USD 46.18 billion in 2020 to USD 241.7 billion by 2030, at a CAGR of 18% during the forecast period 2021-2030.
Semiconductor devices exhibit a variety of useful characteristics, including changeable resistance, the ability to pass current more easily in one direction than the other, and the ability to react to light and heat. Their primary functions are signal amplification, switching, and energy conversion. Thus, these used in practically in almost every industry.
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Semiconductors will increasingly be used in onboard systems for a wide range of automobiles. Much of the advancement in the auto industry is due to the use of semiconductor technology into vehicle designs. Modern automobiles are more intelligent and connected than ever before; the average new vehicle contains computer systems with over 100 million lines of software code. Automobiles today come equipped with a variety of telematics (long-distance data transmission) and infotainment features, transforming them into mobile hotspots that provide drivers with information on everything from collision avoidance to accessible parking spots.
Semiconductors have established a significant presence in the automobile industry, which is fuelling the expansion of the semiconductor market in the automotive industry. The demand for automotive semiconductors in LiDAR sensors, camera-based sensors, Matrix LEDs for electric vehicles, 3-D mapping technology applications, and other applications is likely to drive market growth.
Key players operating in the global automotive semiconductor market are Analog Devices Inc., Entegris, GEO Semiconductor, Inc., Indie Semiconductor, Infineon Technologies AG, Intel Corporation, Lattice Semiconductor, Microchip Technology Inc., NVidia Corporation, ON Semiconductor Corp., Renesas Electronics Corp., Robert Bosch GmbH, ROHM Co., Ltd., Sanmina, Semtech, STMicroelectronics N.V., Texas Instruments, Inc., Toshiba Corp. and Wafer Space among others. To enhance their market position in the global automotive semiconductor market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, joint venture, collaborations, and partnership.
The Brainy Insights data reveals that the actual demand for semiconductors in the auto industry in 2022 trailed a post-pandemic estimate by around 18% over the forecast period.
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During the forecast period, passenger cars are anticipated to hold the largest market share.
The vehicle type segment is divided into Passenger Car, Heavy Commercial Vehicle (HCV), Light Commercial Vehicle (LCV). During the forecast period, passenger cars are anticipated to hold the largest market share. The high demand for passenger cars around the world, particularly in Asia-Oceania, is to account for this growth. In countries such as India, China, Indonesia, Thailand, and Malaysia, for instance, expanding middle-class population and improved disposable income have driven demand for passenger cars.
The discrete power device segment is anticipated to grow at the fastest CAGR of around 19% over the forecast period.
The component segment includes analog IC, processor, discrete power device, memory device, sensor, and lighting device. The discrete power device segment is anticipated to grow at the fastest CAGR of around 19% over the forecast period. The reason for this sharp increase in discrete power device market is the increasing electrification of major automotive applications such as powertrain, which is driving the demand for power components such as MOSFET and IGBT. The demand for enhanced safety and advanced features in automobiles is driving the growth rate of memory devices in the automobile sector.
The safety segment led the market with a market share of 32.1% in 2020.
The application segment includes safety, powertrain, body electronics, telematics and infotainment, and chassis. The safety segment led the market with a market share of 32.1% and a market value of around USD 14.82 billion in 2020. Electronic Stability Control (ESC), blind spot detection, lateral control/support, side collision avoidance, driver monitoring, Intelligent Speed Adaptation (ISA), Collision Avoidance System (CAS), Adaptive Cruise Control (ACC), and other safety systems are among the most common in automobiles.
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Regional Segment Analysis of the Automotive Semiconductor Market
- North America (U.S. Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific region emerged as the largest market for the global automotive semiconductor market with a market share of 35.4% and 16.35 billion value of the market revenue in 2020. Due to fast development of economies and significant booming of automotive sector including electric vehicles and automatic vehicles, the region is expected to see an increase in the use of automotive semiconductors. Taiwan, China, India, and South Korea are the major countries in this market.
About the report:
The global automotive semiconductor market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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