Microcontrollers, sensors, power management integrated circuits, and other electronics that support the numerous systems and functions of contemporary automobiles are referred to as automotive semiconductors. These semiconductors enable features like cutting-edge safety systems, entertainment, and innovative powertrains, and they are essential to the design and operation of automobiles.
The automotive semiconductor market has been significantly impacted by the COVID-19 epidemic. The demand for automotive semiconductors has decreased due to the drop in global automobile manufacturing and the downturn in the global economy brought on by the pandemic. The automotive semiconductor business has also been hit by supply chain disruptions, such as delays in the fabrication of semiconductors and the temporary closure of car manufacturing facilities. Notwithstanding these difficulties, a recovery in the automotive semiconductor market is anticipated during the next few years.
According to MRFR analysis, the globalAutomotive Semiconductor marketis expected to register a CAGR of ~11% from 2022 to 2030 and hold a value of over USD 121 billion by 2030.
Regional Analysis
North America is one of the largest markets for automotive semiconductors and is considered to be a major player in the global automotive semiconductor industry. The region has a well-established automotive industry and is home to many leading manufacturers of vehicles and automotive semiconductors. Additionally, the region's favorable regulatory environment and supportive government policies have made it an attractive market for manufacturers of automotive semiconductors.
Automotive Semiconductor Market Demand and Growth:
The automotive semiconductor market has seen significant growth in recent years and is expected to continue to grow in the coming years. This growth can be attributed to the increasing demand for advanced technologies in the automotive industry, such as autonomous driving, connected cars, and electric vehicles (EVs).
The increasing demand for EVs is one of the major drivers for the growth of the automotive semiconductor market. The demand for EVs is growing due to their environmental benefits, and the increasing availability of charging infrastructure. The increasing production of EVs requires a large number of semiconductors, including power management chips, microcontrollers, and sensors.
The increasing demand for advanced safety features, such as advanced driver assistance systems (ADAS), is also driving the growth of the automotive semiconductor market. ADAS features, such as collision avoidance systems, lane departure warnings, and blind spot detection, require a large number of sensors and processors, which in turn drives the demand for semiconductors.
Another factor driving the growth of the automotive semiconductor market is the increasing demand for connected cars. The growing demand for connected cars is driven by the increasing popularity of connected services, such as telematics and infotainment. These services require a large number of semiconductors, including microcontrollers, modems, and Wi-Fi chips.
Overall, the increasing demand for advanced technologies in the automotive industry is expected to drive the growth of the automotive semiconductor market in the coming years.
Market Segmentation
The Global Automotive Semiconductor market has been segmented into components, and applications.
Based on the component, the market has been segmented into Processor, Analog IC, Discrete Power Device, Sensor, Memory Device, and Logic.
Based on the application, the market has been segmented into Powertrain, Safety, Body Electronics, Chassis, Telematics, and infotainment.
Key Players
Some of the key market players are NXP Semiconductors, Renesas Electronics, Infineon Technologies, STMicroelectronics, Robert Bosch GmbH, Texas Instruments, ON Semiconductor, ROHM, Toshiba, and Analog Devices.
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