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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